New York State Teachers Retirement System Decreases Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

New York State Teachers Retirement System reduced its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,786 shares of the construction company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Cavco Industries were worth $966,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Group One Trading L.P. purchased a new stake in shares of Cavco Industries during the 3rd quarter worth $26,000. Headinvest LLC purchased a new stake in shares of Cavco Industries during the 3rd quarter worth $26,000. Advisory Services Network LLC purchased a new stake in shares of Cavco Industries during the 1st quarter worth $32,000. Federated Hermes Inc. purchased a new stake in Cavco Industries in the third quarter valued at about $26,000. Finally, NewEdge Advisors LLC acquired a new stake in Cavco Industries in the first quarter worth about $52,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $348.88 on Friday. The company has a market cap of $2.91 billion, a PE ratio of 17.70 and a beta of 1.15. The business has a 50-day simple moving average of $374.13 and a two-hundred day simple moving average of $325.27. Cavco Industries, Inc. has a fifty-two week low of $233.84 and a fifty-two week high of $400.99.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Friday, February 2nd. The construction company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $4.36 by ($0.09). The business had revenue of $446.77 million during the quarter, compared to analyst estimates of $428.40 million. Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. During the same period in the prior year, the business posted $6.66 EPS. On average, sell-side analysts predict that Cavco Industries, Inc. will post 19.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, insider Matthew A. Nino sold 2,357 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $360.00, for a total value of $848,520.00. Following the completion of the sale, the insider now owns 1,248 shares of the company’s stock, valued at $449,280. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Paul Bigbee sold 262 shares of Cavco Industries stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $367.13, for a total transaction of $96,188.06. Following the completion of the sale, the chief accounting officer now owns 766 shares of the company’s stock, valued at $281,221.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew A. Nino sold 2,357 shares of Cavco Industries stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $360.00, for a total value of $848,520.00. Following the sale, the insider now directly owns 1,248 shares of the company’s stock, valued at approximately $449,280. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company’s stock.

About Cavco Industries

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.