Teacher Retirement System of Texas Buys 10,989 Shares of Cavco Industries, Inc. $CVCO

Teacher Retirement System of Texas raised its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 244.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,479 shares of the construction company’s stock after acquiring an additional 10,989 shares during the period. Teacher Retirement System of Texas owned about 0.19% of Cavco Industries worth $6,725,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CVCO. GAMMA Investing LLC raised its holdings in shares of Cavco Industries by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock worth $229,000 after purchasing an additional 123 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Cavco Industries by 62.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company’s stock worth $6,402,000 after purchasing an additional 4,779 shares in the last quarter. DAVENPORT & Co LLC bought a new position in shares of Cavco Industries in the first quarter worth approximately $208,000. Principal Financial Group Inc. raised its stake in Cavco Industries by 1.5% in the first quarter. Principal Financial Group Inc. now owns 42,761 shares of the construction company’s stock valued at $22,220,000 after purchasing an additional 638 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in Cavco Industries by 4.1% in the first quarter. OneDigital Investment Advisors LLC now owns 2,229 shares of the construction company’s stock valued at $1,158,000 after acquiring an additional 87 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Stock Performance

CVCO stock opened at $504.00 on Friday. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $602.57. The firm has a market cap of $3.99 billion, a PE ratio of 21.85 and a beta of 1.23. The firm has a fifty day moving average price of $546.02 and a 200 day moving average price of $488.02.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $6.30 by $0.25. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. On average, equities analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on CVCO shares. Wall Street Zen lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Wedbush reiterated a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cavco Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cavco Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $522.50.

Insider Activity at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the completion of the transaction, the director directly owned 7,169 shares of the company’s stock, valued at $3,445,062.95. This trade represents a 6.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Paul Bigbee sold 300 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $530.45, for a total transaction of $159,135.00. Following the sale, the chief accounting officer directly owned 774 shares in the company, valued at $410,568.30. The trade was a 27.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,600 shares of company stock valued at $2,820,884 in the last three months. 1.60% of the stock is 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.