State of New Jersey Common Pension Fund D Sells 2,174 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 28.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,440 shares of the construction company’s stock after selling 2,174 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Cavco Industries worth $1,883,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVCO. Blue Trust Inc. boosted 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 during the last quarter. Mather Group LLC. bought a new stake in shares of Cavco Industries in the 1st quarter valued at $60,000. nVerses Capital LLC bought a new stake in shares of Cavco Industries in the 2nd quarter valued at $138,000. SG Americas Securities LLC bought a new stake in shares of Cavco Industries in the 1st quarter valued at $197,000. Finally, Trexquant Investment LP bought a new stake in shares of Cavco Industries in the 4th quarter valued at $204,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Trading Down 1.9 %

CVCO opened at $435.77 on Monday. The company’s fifty day moving average price is $399.48 and its two-hundred day moving average price is $377.17. Cavco Industries, Inc. has a 1-year low of $233.84 and a 1-year high of $444.90. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 23.75 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced 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). The firm had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same quarter in the prior year, the company earned $5.29 EPS. As a group, equities analysts forecast that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Craig Hallum upped their price objective on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Cavco Industries in a research note on Friday, August 2nd.

Insider Activity

In other news, SVP Steven K. Like sold 575 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 1,255 shares in the company, valued at $460,108.10. 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 stock in a transaction dated 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 transaction, the senior vice president now owns 1,255 shares in the company, valued at $460,108.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The disclosure for this sale can be found here. Insiders sold a total of 4,663 shares of company stock worth $1,882,930 over the last quarter. Insiders own 1.60% of the company’s stock.

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.