Cavco Industries, Inc. (NASDAQ:CVCO) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury raised its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,056 shares of the construction company’s stock after acquiring an additional 218 shares during the period. State of Tennessee Department of Treasury owned 0.05% of Cavco Industries worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cavco Industries in the 4th quarter valued at about $67,000. Smartleaf Asset Management LLC boosted its holdings in shares of Cavco Industries by 387.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after acquiring an additional 128 shares during the period. Blue Trust Inc. grew its position in shares of Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after acquiring an additional 55 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after acquiring an additional 42 shares during the period. Finally, KBC Group NV increased its stake in Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVCO. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Wedbush reiterated a “neutral” rating and issued a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Cavco Industries Stock Performance

CVCO stock opened at $497.97 on Wednesday. The stock has a market capitalization of $4.04 billion, a PE ratio of 24.51 and a beta of 1.19. The company has a fifty day moving average of $501.74 and a 200-day moving average of $483.84. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Equities analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the sale, the director now owns 2,836 shares of the company’s stock, valued at approximately $1,438,362.48. This trade represents a 41.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew A. Nino sold 894 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total transaction of $472,952.82. Following the sale, the insider now owns 771 shares in the company, valued at $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,894 shares of company stock valued at $4,140,833 in the last three months. 1.60% of the stock is currently owned by company insiders.

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.