Arizona State Retirement System Raises Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Arizona State Retirement System boosted its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,103 shares of the construction company’s stock after acquiring an additional 39 shares during the quarter. Arizona State Retirement System’s holdings in Cavco Industries were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CVCO. Blue Trust Inc. lifted its stake in shares of Cavco Industries by 9,900.0% in 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 in the last quarter. Mather Group LLC. acquired a new position in Cavco Industries during the first quarter valued at approximately $60,000. nVerses Capital LLC purchased a new stake in Cavco Industries during the second quarter worth approximately $138,000. SG Americas Securities LLC acquired a new stake in shares of Cavco Industries in the first quarter worth $197,000. Finally, Trexquant Investment LP purchased a new position in shares of Cavco Industries in the 4th quarter valued at $204,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 2.8 %

Shares of CVCO stock opened at $427.53 on Monday. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $435.56. The company has a market capitalization of $3.53 billion, a PE ratio of 23.30 and a beta of 1.24. The firm has a fifty day simple moving average of $391.73 and a 200-day simple moving average of $374.99.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The firm had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. During the same period in the previous year, the company earned $5.29 earnings per share. Equities research analysts predict that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVCO. Craig Hallum increased their price target on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Cavco Industries in a research note on Friday, August 2nd.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 approximately $433,913.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Steven K. Like sold 575 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the sale, the senior vice president now directly owns 1,255 shares of the company’s stock, valued at $460,108.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 in the company, valued at approximately $433,913.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Cavco Industries Profile

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.