Louisiana State Employees Retirement System Takes $1.65 Million Position in Cavco Industries, Inc. $CVCO

Louisiana State Employees Retirement System acquired a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the 1st quarter, Holdings Channel reports. The firm acquired 3,400 shares of the construction company’s stock, valued at approximately $1,647,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position in Cavco Industries by 852,093.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock valued at $1,062,226,000 after buying an additional 1,797,917 shares during the period. State Street Corp raised its position in Cavco Industries by 6.1% in the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after acquiring an additional 21,837 shares during the period. Boston Partners raised its position in Cavco Industries by 82.8% in the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after acquiring an additional 167,230 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cavco Industries by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock worth $137,569,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Cavco Industries by 53.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock worth $126,166,000 after acquiring an additional 74,542 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Price Performance

Shares of CVCO stock opened at $601.89 on Thursday. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 25.11 and a beta of 1.30. Cavco Industries, Inc. has a one year low of $397.38 and a one year high of $713.01. The company’s fifty day moving average price is $540.92 and its 200-day moving average price is $556.60.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The company had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Equities research analysts expect that Cavco Industries, Inc. will post 25 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value 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 $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Allison Aden sold 1,473 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the sale, the executive vice president owned 9,147 shares of the company’s stock, valued at $5,716,875. This represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,541 shares of company stock worth $2,121,932 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, UBS Group assumed coverage on Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cavco Industries has a consensus rating of “Moderate Buy” and a consensus target price of $625.00.

Cavco Industries Profile

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.