Ensign Peak Advisors Inc Sells 250 Shares of Cavco Industries, Inc. $CVCO

Ensign Peak Advisors Inc lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 7.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,930 shares of the construction company’s stock after selling 250 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Cavco Industries were worth $1,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in Cavco Industries by 7.3% during the second quarter. Intech Investment Management LLC now owns 5,314 shares of the construction company’s stock worth $2,309,000 after purchasing an additional 363 shares during the last quarter. SG Americas Securities LLC grew its position in Cavco Industries by 9.3% during the second quarter. SG Americas Securities LLC now owns 1,714 shares of the construction company’s stock valued at $745,000 after acquiring an additional 146 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Cavco Industries by 7.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,057 shares of the construction company’s stock worth $894,000 after acquiring an additional 139 shares in the last quarter. Westbourne Investment Advisors Inc. lifted its holdings in shares of Cavco Industries by 1.9% in the 2nd quarter. Westbourne Investment Advisors Inc. now owns 13,187 shares of the construction company’s stock worth $5,729,000 after acquiring an additional 243 shares during the last quarter. Finally, Verus Capital Partners LLC boosted its stake in shares of Cavco Industries by 8.7% in the 2nd quarter. Verus Capital Partners LLC now owns 748 shares of the construction company’s stock valued at $325,000 after purchasing an additional 60 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVCO. Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Wedbush reiterated a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $550.00.

Cavco Industries Trading Down 2.1%

Shares of NASDAQ:CVCO opened at $595.88 on Friday. The stock has a fifty day simple moving average of $556.23 and a two-hundred day simple moving average of $498.11. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $613.77. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 25.83 and a beta of 1.21.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $6.30 by $0.25. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The company had revenue of $556.53 million during the quarter, compared to the consensus estimate of $542.92 million. As a group, equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Transactions at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the transaction, the director owned 6,669 shares of the company’s stock, valued at approximately $3,794,594.31. This trade represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

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.