Public Sector Pension Investment Board Has $7.51 Million Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Public Sector Pension Investment Board increased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,531 shares of the construction company’s stock after acquiring an additional 500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cavco Industries were worth $7,507,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CVCO. Blue Trust Inc. increased its holdings in shares of Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after acquiring an additional 82 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries during the 3rd quarter worth approximately $64,000. GAMMA Investing LLC increased its holdings in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after acquiring an additional 64 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Cavco Industries during the 2nd quarter worth approximately $138,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Price Performance

CVCO opened at $514.50 on Friday. The business has a fifty day simple moving average of $449.40 and a 200 day simple moving average of $402.77. The company has a market capitalization of $4.17 billion, a PE ratio of 29.08 and a beta of 1.24. Cavco Industries, Inc. has a 1 year low of $279.50 and a 1 year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the previous year, the company posted $4.76 EPS. Equities analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. This represents a 37.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the sale, the chief accounting officer now owns 981 shares of the company’s stock, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,313 shares of company stock worth $1,780,681. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CVCO shares. Craig Hallum boosted their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wedbush boosted their price target on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th.

Cavco Industries Company Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.