Public Sector Pension Investment Board Has $5.90 Million Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Public Sector Pension Investment Board boosted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,031 shares of the construction company’s stock after purchasing an additional 1,111 shares during the period. Public Sector Pension Investment Board owned 0.21% of Cavco Industries worth $5,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Verus Capital Partners LLC increased its holdings in Cavco Industries by 4.5% in the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock worth $226,000 after buying an additional 28 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in shares of Cavco Industries by 0.7% during the 1st quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company’s stock valued at $1,976,000 after acquiring an additional 32 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Cavco Industries by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock valued at $728,000 after acquiring an additional 39 shares in the last quarter. Seven Eight Capital LP boosted its position in Cavco Industries by 3.8% during the fourth quarter. Seven Eight Capital LP now owns 1,399 shares of the construction company’s stock worth $485,000 after purchasing an additional 51 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Cavco Industries by 3.3% during the first quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock valued at $669,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 1.5 %

Shares of NASDAQ CVCO opened at $422.01 on Thursday. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $444.90. The company has a market cap of $3.48 billion, a P/E ratio of 23.00 and a beta of 1.24. The business’s 50 day moving average is $401.29 and its two-hundred day moving average is $378.32.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The company had revenue of $477.60 million for the quarter, compared to analyst estimates of $487.80 million. During the same quarter in the previous year, the company earned $5.29 earnings per share. Sell-side analysts expect that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVCO. Wedbush restated an “outperform” rating and issued a $425.00 price objective on shares of Cavco Industries in a research note on Friday, August 2nd. Craig Hallum boosted their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Insider Activity

In related news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at $433,913.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction on Wednesday, September 11th. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,663 shares of company stock valued at $1,882,930. Insiders own 1.60% 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.