Canada Pension Plan Investment Board Sells 2,600 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Canada Pension Plan Investment Board reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 32.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,500 shares of the construction company’s stock after selling 2,600 shares during the period. Canada Pension Plan Investment Board owned about 0.07% of Cavco Industries worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Cavco Industries during the first quarter worth $60,000. nVerses Capital LLC bought a new stake in shares of Cavco Industries in the second quarter worth $138,000. SG Americas Securities LLC acquired a new stake in Cavco Industries in the first quarter valued at $197,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Cavco Industries during the 1st quarter worth $209,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insider Activity

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the firm’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 completion of the sale, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the transaction, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The disclosure for this sale can be found here. Insiders sold 4,663 shares of company stock worth $1,882,930 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVCO has been the subject of several recent research reports. Craig Hallum increased their price target on 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 target price on shares of Cavco Industries in a research report on Friday, August 2nd.

Cavco Industries Trading Up 1.0 %

Shares of Cavco Industries stock opened at $426.15 on Friday. The business has a 50-day moving average price of $401.29 and a two-hundred day moving average price of $378.32. Cavco Industries, Inc. has a 1-year low of $233.84 and a 1-year high of $444.90. The company has a market cap of $3.53 billion, a P/E ratio of 23.22 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its 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). The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same quarter in the previous year, the firm posted $5.29 earnings per share. Equities research analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

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.