State of New Jersey Common Pension Fund D Reduces Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

State of New Jersey Common Pension Fund D cut its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,454 shares of the construction company’s stock after selling 452 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Cavco Industries worth $1,988,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. acquired a new position in Cavco Industries during the 4th quarter valued at approximately $425,000. Marks Group Wealth Management Inc raised its position in shares of Cavco Industries by 0.8% during the fourth quarter. Marks Group Wealth Management Inc now owns 11,226 shares of the construction company’s stock worth $5,009,000 after purchasing an additional 89 shares during the period. Westbourne Investment Advisors Inc. raised its position in shares of Cavco Industries by 1,656.3% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 12,733 shares of the construction company’s stock worth $5,682,000 after purchasing an additional 12,008 shares during the period. Guidance Capital Inc. acquired a new stake in shares of Cavco Industries during the fourth quarter worth $450,000. Finally, Boston Trust Walden Corp raised its position in Cavco Industries by 0.3% during the fourth quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company’s stock valued at $86,522,000 after buying an additional 614 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVCO shares. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Craig Hallum increased their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Wedbush reaffirmed a “neutral” rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

Insider Transactions at Cavco Industries

In related news, Director Julia Sze sold 125 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $503.31, for a total transaction of $62,913.75. Following the sale, the director now owns 2,736 shares of the company’s stock, valued at approximately $1,377,056.16. This trade represents a 4.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $538.00, for a total value of $538,000.00. Following the sale, the insider now directly owns 1,176 shares in the company, valued at $632,688. The trade was a 45.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,519 shares of company stock worth $2,806,172 in the last three months. Insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

Shares of CVCO opened at $520.81 on Monday. Cavco Industries, Inc. has a 52 week low of $331.08 and a 52 week high of $544.08. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 25.63 and a beta of 1.35. The business’s fifty day moving average price is $480.38 and its two-hundred day moving average price is $453.23.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current 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.