nVerses Capital LLC Makes New Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

nVerses Capital LLC purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 400 shares of the construction company’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its stake in Cavco Industries by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the construction company’s stock valued at $1,350,000 after acquiring an additional 100 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Cavco Industries by 4.0% in the 2nd quarter. Raymond James & Associates now owns 13,138 shares of the construction company’s stock worth $4,548,000 after purchasing an additional 503 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Cavco Industries by 0.8% during the 2nd 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 during the last quarter. Blue Trust Inc. increased its position in shares of Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC raised its holdings in shares of Cavco Industries by 28.4% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 2,535 shares of the construction company’s stock valued at $878,000 after buying an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 2.3 %

CVCO opened at $413.32 on Tuesday. The company has a market cap of $3.42 billion, a P/E ratio of 22.52 and a beta of 1.23. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $426.41. The business’s 50-day moving average price is $378.95 and its 200-day moving average price is $372.27.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 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 last year, the firm earned $5.29 earnings per share. Equities research analysts forecast that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVCO. Craig Hallum upped their target price on 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 target price on shares of Cavco Industries in a report on Friday, August 2nd.

Insider Buying and Selling

In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares of the company’s stock, valued at approximately $460,108.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

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.