Texas Permanent School Fund Corp Trims Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Texas Permanent School Fund Corp lowered its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.1% in the second quarter, Holdings Channel.com reports. The firm owned 6,580 shares of the construction company’s stock after selling 214 shares during the period. Texas Permanent School Fund Corp’s holdings in Cavco Industries were worth $2,278,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after buying an additional 99 shares during the period. Mather Group LLC. acquired a new stake in shares of Cavco Industries in the first quarter worth approximately $60,000. nVerses Capital LLC purchased a new stake in Cavco Industries in the second quarter valued at approximately $138,000. SG Americas Securities LLC acquired a new position in Cavco Industries during the first quarter worth approximately $197,000. Finally, Trexquant Investment LP purchased a new position in Cavco Industries during the fourth quarter worth approximately $204,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVCO has been the subject of several research reports. Craig Hallum boosted their price objective on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Cavco Industries in a research report on Friday, August 2nd.

Cavco Industries Stock Up 1.0 %

Shares of CVCO stock opened at $431.60 on Wednesday. Cavco Industries, Inc. has a fifty-two week low of $233.84 and a fifty-two week high of $437.02. The firm’s 50 day moving average price is $395.14 and its two-hundred day moving average price is $375.74. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 23.52 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The business had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $487.80 million. During the same period last year, the company posted $5.29 earnings per share. On average, equities analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven K. Like sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the sale, the senior vice president now owns 1,255 shares of the company’s stock, valued at $460,108.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,663 shares of company stock worth $1,882,930. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries 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.