Louisiana State Employees Retirement System Makes New Investment in Cavco Industries, Inc. $CVCO

Louisiana State Employees Retirement System bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,400 shares of the construction company’s stock, valued at approximately $1,647,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Cavco Industries in the 4th quarter worth about $46,000. Kemnay Advisory Services Inc. bought a new stake in Cavco Industries during the 4th quarter valued at about $50,000. Los Angeles Capital Management LLC purchased a new position in Cavco Industries in the fourth quarter worth about $54,000. Osaic Holdings Inc. raised its holdings in Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of Cavco Industries in the third quarter worth approximately $58,000. 95.56% of the stock is currently owned by institutional investors.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Allison Aden sold 1,473 shares of Cavco Industries stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the sale, the executive vice president directly owned 9,147 shares of the company’s stock, valued at approximately $5,716,875. This trade represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,541 shares of company stock worth $2,121,932 over the last quarter. Company insiders own 1.70% of the company’s stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $601.89 on Thursday. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 25.11 and a beta of 1.30. The business has a 50-day simple moving average of $540.92 and a two-hundred day simple moving average of $556.60. Cavco Industries, Inc. has a fifty-two week low of $397.38 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The firm had revenue of $550.13 million for the quarter, compared to the consensus estimate of $571.06 million. As a group, research analysts predict that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. UBS Group initiated coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective on the stock. Finally, Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $625.00.

Cavco Industries Company 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.