California State Teachers Retirement System Acquires 1,808 Shares of Cavco Industries, Inc. $CVCO

California State Teachers Retirement System lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 24.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,319 shares of the construction company’s stock after purchasing an additional 1,808 shares during the period. California State Teachers Retirement System’s holdings in Cavco Industries were worth $4,513,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in shares of Cavco Industries by 31.5% during the 4th quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after purchasing an additional 9,589 shares during the last quarter. Fifth Third Bancorp increased its position in Cavco Industries by 599.0% in the first quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock worth $1,367,000 after buying an additional 2,420 shares during the last quarter. M&T Bank Corp purchased a new stake in Cavco Industries in the fourth quarter worth $9,501,000. Intech Investment Management LLC raised its stake in shares of Cavco Industries by 58.0% in the fourth quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock valued at $3,406,000 after buying an additional 2,116 shares during the period. Finally, Pier Capital LLC raised its stake in shares of Cavco Industries by 90.8% in the fourth quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock valued at $7,150,000 after buying an additional 5,761 shares during the period. Institutional investors own 95.56% of the company’s stock.

Insider Transactions at Cavco Industries

In other Cavco Industries 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 transaction of $107,550.00. Following the completion of the transaction, the chief accounting officer owned 1,105 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total value of $294,380.00. Following the transaction, the director directly owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,571 shares of company stock valued at $2,139,031 in the last three months. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $592.23 on Friday. The stock has a market capitalization of $4.55 billion, a P/E ratio of 25.77 and a beta of 1.29. Cavco Industries, Inc. has a one year low of $443.33 and a one year high of $713.01. The business’s 50 day simple moving average is $577.93 and its two-hundred day simple moving average is $547.80.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The business had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Sell-side analysts expect that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zelman & Associates downgraded Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday. Finally, UBS Group assumed coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $700.00.

About Cavco Industries

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.