Cavco Industries, Inc. (CVCO) Position Raised by California Public Employees Retirement System

California Public Employees Retirement System boosted its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 5.8% in the third quarter, Holdings Channel reports. The firm owned 14,600 shares of the construction company’s stock after acquiring an additional 800 shares during the period. California Public Employees Retirement System’s holdings in Cavco Industries were worth $2,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cadence Capital Management LLC increased its holdings in Cavco Industries by 5.1% in the third quarter. Cadence Capital Management LLC now owns 15,775 shares of the construction company’s stock valued at $2,328,000 after purchasing an additional 767 shares during the last quarter. SG Americas Securities LLC bought a new stake in Cavco Industries in the third quarter valued at about $479,000. Dimensional Fund Advisors LP increased its holdings in Cavco Industries by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 496,392 shares of the construction company’s stock valued at $73,243,000 after purchasing an additional 3,390 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cavco Industries by 3.8% in the second quarter. Vanguard Group Inc. now owns 458,778 shares of the construction company’s stock valued at $59,481,000 after purchasing an additional 16,893 shares during the last quarter. Finally, Capital Growth Management LP bought a new stake in Cavco Industries in the third quarter valued at about $1,180,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Shares of Cavco Industries, Inc. (NASDAQ CVCO) opened at $160.75 on Friday. Cavco Industries, Inc. has a fifty-two week low of $93.65 and a fifty-two week high of $169.75. The stock has a market capitalization of $1,441.26, a PE ratio of 35.80 and a beta of 1.60. The company has a quick ratio of 1.66, a current ratio of 2.25 and a debt-to-equity ratio of 0.13.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Tuesday, November 7th. The construction company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.13). Cavco Industries had a return on equity of 10.30% and a net margin of 5.09%. The business had revenue of $200.50 million during the quarter, compared to the consensus estimate of $190.87 million. During the same quarter last year, the company earned $1.04 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year.

Separately, BidaskClub downgraded Cavco Industries from a “hold” rating to a “sell” rating in a report on Thursday, December 14th.

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $146.50, for a total value of $586,000.00. Following the completion of the sale, the director now directly owns 4,000 shares in the company, valued at $586,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack Hanna sold 2,464 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $147.96, for a total value of $364,573.44. Following the completion of the sale, the director now owns 2,281 shares of the company’s stock, valued at $337,496.76. The disclosure for this sale can be found here. Insiders sold 9,464 shares of company stock valued at $1,381,433 over the last 90 days. Corporate insiders own 8.44% of the company’s stock.

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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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Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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