State Board of Administration of Florida Retirement System reduced its stake in shares of Cavco Industries Inc. (NASDAQ:CVCO) by 1.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,626 shares of the company’s stock after selling 50 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cavco Industries were worth $246,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of CVCO. Anchor Capital Advisors LLC boosted its stake in Cavco Industries by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 20,922 shares of the company’s stock valued at $1,960,000 after buying an additional 157 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Cavco Industries by 17.9% in the second quarter. Bank of New York Mellon Corp now owns 230,334 shares of the company’s stock valued at $21,583,000 after buying an additional 34,965 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Cavco Industries during the second quarter valued at approximately $731,000. GW&K Investment Management LLC boosted its stake in Cavco Industries by 109.2% in the second quarter. GW&K Investment Management LLC now owns 75,829 shares of the company’s stock valued at $7,105,000 after buying an additional 39,580 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Cavco Industries during the second quarter valued at approximately $347,000. 95.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cavco Industries Inc. (NASDAQ:CVCO) traded down 0.42% during midday trading on Monday, reaching $97.35. 5,145 shares of the company’s stock traded hands. The company has a 50 day moving average of $99.97 and a 200 day moving average of $96.11. The firm has a market cap of $873.33 million, a PE ratio of 30.91 and a beta of 1.85. Cavco Industries Inc. has a 52-week low of $70.28 and a 52-week high of $110.67.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.60. The business had revenue of $185.10 million for the quarter, compared to the consensus estimate of $181.40 million. Cavco Industries had a net margin of 3.89% and a return on equity of 8.22%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. On average, equities analysts predict that Cavco Industries Inc. will post $3.55 EPS for the current fiscal year.
Separately, Sidoti began coverage on shares of Cavco Industries in a research report on Wednesday, September 7th. They issued a “neutral” rating and a $114.00 price objective on the stock.
In related news, Director Steven G. Bunger sold 11,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $101.20, for a total value of $1,113,200.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $303,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.58% of the stock is currently owned by insiders.
About Cavco Industries
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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