Arizona State Retirement System Buys 41 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Arizona State Retirement System increased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,197 shares of the construction company’s stock after acquiring an additional 41 shares during the quarter. Arizona State Retirement System’s holdings in Cavco Industries were worth $1,142,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new stake in Cavco Industries in the fourth quarter valued at approximately $67,000. ClearAlpha Technologies LP purchased a new position in shares of Cavco Industries in the 4th quarter worth $204,000. DAVENPORT & Co LLC bought a new stake in Cavco Industries during the first quarter valued at about $208,000. New Age Alpha Advisors LLC purchased a new position in shares of Cavco Industries during the fourth quarter valued at about $215,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Cavco Industries by 58.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company’s stock valued at $219,000 after purchasing an additional 181 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Stock Down 1.9%

NASDAQ CVCO opened at $420.73 on Friday. The company has a 50 day moving average price of $447.83 and a two-hundred day moving average price of $480.53. Cavco Industries, Inc. has a 12-month low of $351.28 and a 12-month high of $549.99. The stock has a market capitalization of $3.40 billion, a PE ratio of 20.27 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating the consensus estimate of $5.23 by $0.17. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. The firm had revenue of $508.36 million during the quarter, compared to analysts’ expectations of $504.15 million. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVCO. Wedbush reiterated a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Tuesday, May 27th. Wall Street Zen downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th.

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.