State of Wyoming Reduces Position in Cavco Industries, Inc. $CVCO

State of Wyoming trimmed its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 69.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,173 shares of the construction company’s stock after selling 2,721 shares during the quarter. State of Wyoming’s holdings in Cavco Industries were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after acquiring an additional 53 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Cavco Industries by 1,814.3% during the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after purchasing an additional 127 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after purchasing an additional 22 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Cavco Industries in the first quarter worth about $112,000. Finally, ST Germain D J Co. Inc. purchased a new position in Cavco Industries during the 2nd quarter valued at about $156,000. 95.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. CJS Securities raised Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Cavco Industries presently has a consensus rating of “Buy” and an average target price of $550.00.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $598.17 on Tuesday. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $614.11. The firm has a market capitalization of $4.67 billion, a P/E ratio of 24.58 and a beta of 1.28. The stock has a 50 day moving average price of $560.22 and a 200-day moving average price of $505.27.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $6.30 by $0.25. The company had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. Cavco Industries had a return on equity of 19.13% and a net margin of 9.18%. On average, equities analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the sale, the director directly owned 6,669 shares of the company’s stock, valued at $3,794,594.31. This represents a 6.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.