Cavco Industries, Inc. $CVCO Stock Holdings Trimmed by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 51.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,138 shares of the construction company’s stock after selling 1,213 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cavco Industries were worth $661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CVCO. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cavco Industries by 12.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after purchasing an additional 22 shares in the last quarter. Sheets Smith Wealth Management raised its position in shares of Cavco Industries by 1.4% during the 3rd quarter. Sheets Smith Wealth Management now owns 2,245 shares of the construction company’s stock worth $1,304,000 after buying an additional 31 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Cavco Industries by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the construction company’s stock worth $506,000 after buying an additional 32 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Cavco Industries by 1.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 3,773 shares of the construction company’s stock worth $1,639,000 after acquiring an additional 41 shares during the period. Finally, CWM LLC boosted its holdings in shares of Cavco Industries by 31.3% in the third quarter. CWM LLC now owns 176 shares of the construction company’s stock valued at $102,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 1.9%

Shares of Cavco Industries stock opened at $683.83 on Friday. The stock’s fifty day moving average is $608.83 and its 200-day moving average is $544.66. The firm has a market capitalization of $5.33 billion, a PE ratio of 28.09 and a beta of 1.31. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01.

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 analysts’ consensus estimates of $6.30 by $0.25. The business had revenue of $556.53 million during 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%. Analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $568.99, for a total transaction of $284,495.00. Following the sale, the director owned 6,669 shares in the company, valued at $3,794,594.31. The trade was a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVCO shares. Zacks Research downgraded Cavco Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, December 29th. Finally, CJS Securities raised Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cavco Industries has a consensus rating of “Moderate Buy” and an average price target of $550.00.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.