Strs Ohio Has $2.13 Million Holdings in Cavco Industries, Inc. $CVCO

Strs Ohio boosted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 91.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,400 shares of the construction company’s stock after acquiring an additional 2,100 shares during the quarter. Strs Ohio owned 0.06% of Cavco Industries worth $2,131,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CVCO. Aster Capital Management DIFC Ltd purchased a new stake in shares of Cavco Industries in the fourth quarter worth approximately $46,000. Kemnay Advisory Services Inc. bought a new stake in Cavco Industries during the fourth quarter worth $50,000. Los Angeles Capital Management LLC bought a new stake in Cavco Industries during the fourth quarter worth $54,000. Osaic Holdings Inc. raised its position in Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after buying an additional 65 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Cavco Industries in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insider Activity

In other news, EVP Allison Aden sold 1,473 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the sale, the executive vice president owned 9,147 shares in the company, valued at $5,716,875. This trade represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Paul Bigbee sold 200 shares of Cavco Industries stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the sale, the chief accounting officer directly owned 1,105 shares in the company, valued at $594,213.75. This trade represents a 15.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,541 shares of company stock valued at $2,121,932 in the last three months. Company insiders own 1.70% of the company’s stock.

Cavco Industries Stock Performance

NASDAQ:CVCO traded down $4.04 during trading on Tuesday, reaching $582.47. The company’s stock had a trading volume of 5,770 shares, compared to its average volume of 168,271. Cavco Industries, Inc. has a 12 month low of $397.38 and a 12 month high of $713.01. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 24.30 and a beta of 1.28. The firm has a 50 day moving average of $544.63 and a 200-day moving average of $556.56.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. The company had revenue of $550.13 million for the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. Equities research analysts forecast that Cavco Industries, Inc. will post 25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on CVCO. UBS Group started coverage on shares of Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. Finally, Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $625.00.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.