Public Employees Retirement Association of Colorado Lowers Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Public Employees Retirement Association of Colorado cut its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 4.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,010 shares of the construction company’s stock after selling 43 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cavco Industries were worth $350,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Capital World Investors boosted its position in Cavco Industries by 2.9% during the 1st quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after acquiring an additional 17,125 shares in the last quarter. Boston Trust Walden Corp boosted its position in Cavco Industries by 0.8% during the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock valued at $67,865,000 after purchasing an additional 1,541 shares in the last quarter. Norges Bank purchased a new position in Cavco Industries in the fourth quarter valued at about $21,059,000. Ashford Capital Management Inc. raised its holdings in Cavco Industries by 0.5% in the first quarter. Ashford Capital Management Inc. now owns 58,180 shares of the construction company’s stock worth $23,217,000 after purchasing an additional 310 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Cavco Industries by 9.0% in the 1st quarter. Kennedy Capital Management LLC now owns 48,031 shares of the construction company’s stock valued at $19,167,000 after buying an additional 3,975 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 1.3 %

CVCO opened at $431.82 on Friday. The firm’s 50-day moving average price is $401.95 and its 200-day moving average price is $378.65. The company has a market cap of $3.57 billion, a P/E ratio of 23.53 and a beta of 1.24. Cavco Industries, Inc. has a 52-week low of $233.84 and a 52-week high of $444.90.

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

Insiders Place Their Bets

In other news, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated 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 of the company’s stock, valued at $433,913.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction 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 Securities & Exchange Commission, which is accessible through this link. Also, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,663 shares of company stock valued at $1,882,930. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on CVCO shares. Craig Hallum boosted their price objective on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wedbush reaffirmed 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 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.