Cavco Industries, Inc. $CVCO Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,652 shares of the construction company's stock after selling 667 shares during the period. California State Teachers Retirement System owned about 0.11% of Cavco Industries worth $5,315,616 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Sheets Smith Wealth Management grew its stake in shares of Cavco Industries by 0.9% during the 1st quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company's stock worth $1,090,000 after acquiring an additional 20 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cavco Industries by 8.6% during the 2nd quarter. GAMMA Investing LLC now owns 415 shares of the construction company's stock worth $255,000 after acquiring an additional 33 shares during the period. Aristides Capital LLC boosted its stake in shares of Cavco Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 902 shares of the construction company's stock worth $533,000 after buying an additional 40 shares during the last quarter. Silvant Capital Management LLC bought a new stake in shares of Cavco Industries in the second quarter worth about $25,000. Finally, Global Retirement Partners LLC bought a new position in Cavco Industries in the second quarter worth approximately $28,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Down 0.3%

CVCO stock traded down $1.44 during trading on Tuesday, hitting $534.23. 38,411 shares of the company's stock traded hands, compared to its average volume of 151,226. The business has a fifty day simple moving average of $570.51 and a two-hundred day simple moving average of $544.18. The firm has a market capitalization of $4.11 billion, a P/E ratio of 23.25 and a beta of 1.28. Cavco Industries, Inc. has a 1 year low of $443.33 and a 1 year high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts' consensus estimates of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The business had revenue of $609.96 million for the quarter, compared to analysts' expectations of $590.54 million. On average, equities research analysts predict that Cavco Industries, Inc. will post 22.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research reports. UBS Group initiated coverage on shares of Cavco Industries in a research note on Friday, June 5th. They issued a "buy" rating and a $700.00 price target for the company. Zacks Research downgraded Cavco Industries from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Zelman & Associates cut Cavco Industries from an "outperform" rating to a "neutral" rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Cavco Industries in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $700.00.

Insider Buying and Selling at Cavco Industries

In related news, EVP Allison Aden sold 1,473 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was 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 represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Paul Bigbee sold 342 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the sale, the chief accounting officer directly owned 736 shares of the company's stock, valued at $435,712. The trade was a 31.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,845 shares of company stock valued at $1,140,188. 1.70% of the stock is currently owned by insiders.

Cavco Industries Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company produces manufactured homes, modular homes, park model recreational vehicles and other factory-built structures for residential, commercial and recreational applications. Its homes are sold under a range of brands, including Cavco, Fleetwood, Palm Harbor and Nationwide Homes.

Cavco markets its products through an independent dealer network as well as company-owned retail locations. It also provides financing and insurance services for manufactured-home buyers through affiliated businesses, including CountryPlace Mortgage and insurance operations.

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