Public Sector Pension Investment Board Grows Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Key Points

• The Public Sector Pension Investment Board increased its stake in Cavco Industries by 42.2% during the first quarter, owning a total of 28,786 shares valued at approximately $14.96 million.
• Several other institutional investors also adjusted their holdings in Cavco, with notable increases from Nuveen LLC and Neumeier Poma Investment Counsel LLC, reflecting strong interest in the company.
• Cavco Industries reported an EPS of $6.42 in its latest earnings, surpassing expectations and demonstrating a solid financial performance with a revenue of $556.86 million.

Public Sector Pension Investment Board lifted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 42.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,786 shares of the construction company's stock after acquiring an additional 8,546 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.36% of Cavco Industries worth $14,958,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Cavco Industries by 44.0% during the first quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after purchasing an additional 48 shares in the last quarter. ClearAlpha Technologies LP purchased a new position in Cavco Industries during the fourth quarter valued at approximately $204,000. DAVENPORT & Co LLC purchased a new position in Cavco Industries during the first quarter valued at approximately $208,000. Tower Research Capital LLC TRC increased its holdings in Cavco Industries by 58.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock valued at $219,000 after buying an additional 181 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock valued at $229,000 after buying an additional 123 shares during the period. Institutional investors own 95.56% of the company's stock.

Cavco Industries Price Performance

NASDAQ CVCO traded down $3.13 on Friday, hitting $480.22. The stock had a trading volume of 93,119 shares, compared to its average volume of 106,836. The business's fifty day moving average price is $432.90 and its 200 day moving average price is $477.51. Cavco Industries, Inc. has a 52-week low of $384.46 and a 52-week high of $549.99. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 20.82 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.61. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. The firm had revenue of $556.86 million for the quarter, compared to the consensus estimate of $524.97 million. As a group, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on CVCO. Wedbush reissued a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

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.