Cavco Industries, Inc. (NASDAQ:CVCO) Shares Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System grew its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the construction company’s stock after purchasing an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cavco Industries were worth $1,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its stake in Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the period. Mather Group LLC. acquired a new position in Cavco Industries in the first quarter valued at approximately $60,000. GAMMA Investing LLC purchased a new position in Cavco Industries in the fourth quarter worth approximately $77,000. Simplex Trading LLC acquired a new stake in Cavco Industries during the fourth quarter worth $140,000. Finally, SG Americas Securities LLC purchased a new stake in Cavco Industries in the first quarter valued at $197,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cavco Industries

In other news, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVCO. Craig Hallum raised their price objective on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wedbush reiterated 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 Trading Up 5.1 %

CVCO stock opened at $409.16 on Monday. The business’s fifty day moving average price is $374.07 and its 200 day moving average price is $370.74. Cavco Industries, Inc. has a 12-month low of $233.84 and a 12-month high of $426.41. The company has a market capitalization of $3.39 billion, a PE ratio of 22.30 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO) last issued 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 business had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $487.80 million. Cavco Industries had a return on equity of 14.30% and a net margin of 8.12%. During the same quarter last year, the company earned $5.29 earnings per share. Research analysts predict that Cavco Industries, Inc. will post 19.77 EPS for the current fiscal year.

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.