Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,580 shares of the construction company’s stock after selling 214 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Cavco Industries worth $2,278,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares during the period. Mather Group LLC. acquired a new position in Cavco Industries in the 1st quarter valued at $60,000. nVerses Capital LLC purchased a new position in Cavco Industries during the 2nd quarter worth $138,000. SG Americas Securities LLC purchased a new stake in shares of Cavco Industries in the first quarter valued at about $197,000. Finally, Trexquant Investment LP acquired a new position in shares of Cavco Industries during the fourth quarter worth about $204,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Performance

CVCO opened at $431.60 on Wednesday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 23.52 and a beta of 1.24. Cavco Industries, Inc. has a one year low of $233.84 and a one year high of $437.02. The business’s fifty day moving average is $395.14 and its two-hundred day moving average is $375.74.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The business had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. During the same quarter in the prior year, the firm earned $5.29 earnings per share. On average, analysts predict that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVCO shares. Craig Hallum lifted their price objective on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Cavco Industries in a research report on Friday, August 2nd.

Insider Activity

In related news, SVP Steven K. Like sold 575 shares of Cavco Industries stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the transaction, the senior vice president now directly owns 1,255 shares in the company, valued at approximately $460,108.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the transaction, the senior vice president now owns 1,255 shares of the company’s stock, valued at $460,108.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The disclosure for this sale can be found here. Insiders have sold 4,663 shares of company stock worth $1,882,930 over the last ninety days. 1.60% of the stock is currently owned by insiders.

About Cavco Industries

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.