Louisiana State Employees Retirement System Grows Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Louisiana State Employees Retirement System grew its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 3,900 shares of the construction company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Cavco Industries were worth $1,350,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund lifted its holdings in Cavco Industries by 25.2% in the 4th quarter. New York State Common Retirement Fund now owns 4,570 shares of the construction company’s stock worth $1,584,000 after buying an additional 919 shares in the last quarter. GAMMA Investing LLC purchased a new position in Cavco Industries in the fourth quarter valued at about $77,000. Simplex Trading LLC acquired a new stake in Cavco Industries during the 4th quarter valued at approximately $140,000. Truist Financial Corp increased its holdings in Cavco Industries by 3.7% during the 4th quarter. Truist Financial Corp now owns 15,979 shares of the construction company’s stock worth $5,539,000 after purchasing an additional 571 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its position in shares of Cavco Industries by 16.8% in the 4th quarter. Anchor Capital Advisors LLC now owns 4,919 shares of the construction company’s stock valued at $1,705,000 after purchasing an additional 709 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Trading Up 5.1 %

Shares of NASDAQ CVCO opened at $409.16 on Monday. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 22.30 and a beta of 1.23. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $426.41. The business has a 50 day simple moving average of $374.07 and a 200-day simple moving average of $370.74.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.30%. The business had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. During the same quarter in the previous year, the firm earned $5.29 EPS. As a group, equities analysts predict that Cavco Industries, Inc. will post 19.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVCO. Craig Hallum raised their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wedbush reissued an “outperform” rating and issued a $425.00 target price on shares of Cavco Industries in a research report on Friday, August 2nd.

Insider Buying and Selling

In other Cavco Industries news, SVP Steven K. Like sold 575 shares of Cavco Industries stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the transaction, the senior vice president now directly owns 1,255 shares in the company, valued at $460,108.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Cavco Industries Company Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.