State of New Jersey Common Pension Fund D Reduces Position in Cavco Industries, Inc. (NASDAQ:CVCO)

State of New Jersey Common Pension Fund D trimmed its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 9.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,906 shares of the construction company’s stock after selling 534 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cavco Industries were worth $2,101,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new stake in Cavco Industries in the third quarter valued at $208,000. Marks Group Wealth Management Inc increased its holdings in shares of Cavco Industries by 38.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 11,137 shares of the construction company’s stock valued at $4,769,000 after acquiring an additional 3,106 shares during the last quarter. Amalgamated Bank raised its position in shares of Cavco Industries by 1.2% during the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock worth $1,040,000 after acquiring an additional 29 shares in the last quarter. Westbourne Investment Advisors Inc. purchased a new stake in Cavco Industries during the third quarter worth approximately $310,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after purchasing an additional 13,331 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wedbush lifted their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, Craig Hallum boosted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Stock Up 0.1 %

CVCO opened at $465.23 on Friday. Cavco Industries, Inc. has a 52 week low of $271.48 and a 52 week high of $484.80. The business’s 50 day moving average is $432.05 and its two-hundred day moving average is $393.22. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 26.33 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same period in the previous year, the company posted $4.76 EPS. Equities analysts expect that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In related news, Director Julia Sze sold 125 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the sale, the director now directly owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This represents a 37.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,213 shares of company stock worth $1,729,458. 1.60% of the stock is owned by company insiders.

Cavco Industries Company 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.