State of Alaska Department of Revenue Has $2.02 Million Position in Cavco Industries, Inc. (NASDAQ:CVCO)

State of Alaska Department of Revenue lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,709 shares of the construction company’s stock after buying an additional 152 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Cavco Industries worth $2,016,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVCO. Blue Trust Inc. boosted its position in Cavco Industries by 9,900.0% during 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 last quarter. GAMMA Investing LLC grew its stake in shares of Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after buying an additional 64 shares in the last quarter. nVerses Capital LLC acquired a new position in Cavco Industries during the second quarter worth $138,000. SG Americas Securities LLC bought a new stake in Cavco Industries during the first quarter worth $197,000. Finally, TradeLink Capital LLC acquired a new stake in Cavco Industries in the second quarter valued at $202,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Price Performance

CVCO stock opened at $446.72 on Friday. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 26.02 and a beta of 1.24. The company has a fifty day moving average price of $421.15 and a two-hundred day moving average price of $386.80. Cavco Industries, Inc. has a one year low of $248.84 and a one year high of $452.42.

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

Insider Activity

In related news, SVP Steven K. Like sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the transaction, the senior vice president now directly owns 1,255 shares of the company’s stock, valued at approximately $460,108.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the transaction, the senior vice president now owns 1,255 shares in the company, valued at $460,108.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,663 shares of company stock valued at $1,882,930. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wedbush boosted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Craig Hallum boosted their price target on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Cavco Industries 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.