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

California State Teachers Retirement System increased its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 24.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,319 shares of the construction company’s stock after buying an additional 1,808 shares during the period. California State Teachers Retirement System owned 0.12% of Cavco Industries worth $4,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Cavco Industries by 852,093.4% during the 4th 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 acquiring an additional 1,797,917 shares during the period. State Street Corp increased its holdings in Cavco Industries by 6.1% in the 2nd quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after buying an additional 21,837 shares in the last quarter. Boston Partners grew its stake in shares of 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 raised its stake in Cavco Industries by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock valued at $137,569,000 after buying an additional 1,018 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Cavco Industries by 53.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock valued at $126,166,000 after acquiring an additional 74,542 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 2.4%

NASDAQ CVCO opened at $592.23 on Friday. The company has a market cap of $4.55 billion, a P/E ratio of 25.77 and a beta of 1.29. The company has a fifty day simple moving average of $577.93 and a 200 day simple moving average of $547.80. Cavco Industries, Inc. has a 12-month low of $443.33 and a 12-month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 earnings per share (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 analyst estimates of $590.54 million. Sell-side analysts predict that Cavco Industries, Inc. will post 22.75 EPS for the current year.

Wall Street Analysts Forecast Growth

CVCO has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. UBS Group assumed coverage on shares of Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target on the stock. Zacks Research downgraded Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $700.00.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the transaction, the chief accounting officer directly owned 1,105 shares in the company, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the transaction, the director directly owned 6,169 shares in the company, valued at $3,632,060.44. This represents a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,571 shares of company stock valued at $2,139,031. Corporate insiders own 1.70% of the company’s stock.

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.