Public Sector Pension Investment Board Buys 8,546 Shares of 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 increased its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 about 0.36% of Cavco Industries worth $14,958,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Stephens Inc. AR boosted its stake in shares of Cavco Industries by 3.8% in the first quarter. Stephens Inc. AR now owns 629 shares of the construction company's stock valued at $327,000 after purchasing an additional 23 shares during the period. State of Wyoming increased its holdings in shares of Cavco Industries by 0.8% in the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company's stock valued at $1,368,000 after acquiring an additional 24 shares during the period. Summit Investment Advisors Inc. grew its position in Cavco Industries by 3.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 866 shares of the construction company's stock valued at $386,000 after buying an additional 30 shares during the last quarter. Ancora Advisors LLC grew its position in Cavco Industries by 0.4% in the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company's stock valued at $4,494,000 after buying an additional 40 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Cavco Industries by 1.9% during the 1st quarter. Arizona State Retirement System now owns 2,197 shares of the construction company's stock worth $1,142,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Cavco Industries Trading Down 0.6%

NASDAQ CVCO traded down $3.13 during trading on Friday, reaching $480.22. 93,119 shares of the company's stock were exchanged, compared to its average volume of 106,836. Cavco Industries, Inc. has a fifty-two week low of $384.46 and a fifty-two week high of $549.99. The firm has a market capitalization of $3.80 billion, a PE ratio of 20.82 and a beta of 1.15. The company's fifty day simple moving average is $432.90 and its 200-day simple moving average is $477.58.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.61. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. The business had revenue of $556.86 million for the quarter, compared to the consensus estimate of $524.97 million. Equities analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVCO. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Wedbush reiterated a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th.

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.