Teacher Retirement System of Texas Buys 2,590 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Teacher Retirement System of Texas raised its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 137.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,472 shares of the construction company’s stock after buying an additional 2,590 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cavco Industries were worth $1,996,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SkyView Investment Advisors LLC grew its stake in Cavco Industries by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after acquiring an additional 31 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after purchasing an additional 42 shares in the last quarter. Xponance Inc. increased its holdings in shares of Cavco Industries by 9.4% in the fourth quarter. Xponance Inc. now owns 596 shares of the construction company’s stock worth $266,000 after purchasing an additional 51 shares during the period. Blue Trust Inc. raised its position in shares of Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after buying an additional 55 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Cavco Industries by 8.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 720 shares of the construction company’s stock valued at $321,000 after buying an additional 55 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Stock Performance

Cavco Industries stock opened at $526.55 on Friday. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08. The stock has a market cap of $4.27 billion, a P/E ratio of 25.91 and a beta of 1.34. The firm’s fifty day moving average price is $513.18 and its 200-day moving average price is $473.44.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. On average, analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Insider Activity

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the sale, the director now owns 2,836 shares of the company’s stock, valued at $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew A. Nino sold 894 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total transaction of $472,952.82. Following the transaction, the insider now directly owns 771 shares in the company, valued at $407,882.13. This trade represents a 53.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,644 shares of company stock worth $4,494,608. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CVCO shares. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Wedbush reissued a “neutral” rating and set a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

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.