Cavco Industries, Inc. $CVCO Shares Acquired by State of Wyoming

Key Points

• The State of Wyoming increased its position in Cavco Industries, Inc. by 27.0%, owning 3,894 shares valued at approximately $2.02 million as of the end of the first quarter.
• Cavco reported earnings of $6.42 per share for the recent quarter, exceeding analysts' expectations of $5.81, with net revenue reaching $556.86 million.
• Institutional investors hold a significant majority of Cavco's shares, with 95.56% of the company's stock owned by these entities, indicating strong institutional interest.

State of Wyoming boosted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 27.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,894 shares of the construction company's stock after buying an additional 828 shares during the period. Cavco Industries makes up 0.3% of State of Wyoming's investment portfolio, making the stock its 27th biggest holding. State of Wyoming's holdings in Cavco Industries were worth $2,023,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Stephens Inc. AR boosted its stake in Cavco Industries by 3.8% during the first quarter. Stephens Inc. AR now owns 629 shares of the construction company's stock valued at $327,000 after buying an additional 23 shares during the period. Ancora Advisors LLC grew its position in Cavco Industries by 0.4% during the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company's stock worth $4,494,000 after acquiring an additional 40 shares during the last quarter. HighTower Advisors LLC increased its holdings in Cavco Industries by 2.6% during the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company's stock valued at $816,000 after purchasing an additional 40 shares during the period. Arizona State Retirement System raised its holdings in Cavco Industries by 1.9% in 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. Finally, Captrust Financial Advisors raised its position in shares of Cavco Industries by 3.6% in the 4th quarter. Captrust Financial Advisors now owns 1,329 shares of the construction company's stock worth $593,000 after acquiring an additional 46 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $519.30, for a total value of $1,298,250.00. Following the transaction, the director owned 3,126 shares of the company's stock, valued at $1,623,331.80. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total transaction of $240,275.00. Following the sale, the director owned 7,169 shares of the company's stock, valued at approximately $3,445,062.95. This represents a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,600 shares of company stock valued at $2,820,884 over the last quarter. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CVCO. Wedbush reissued a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Cavco Industries presently has an average rating of "Moderate Buy" and a consensus target price of $522.50.

Cavco Industries Trading Up 0.6%

CVCO traded up $3.36 during midday trading on Wednesday, hitting $528.07. 100,770 shares of the company traded hands, compared to its average volume of 106,576. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 22.89 and a beta of 1.23. The business has a 50 day simple moving average of $457.17 and a two-hundred day simple moving average of $476.70. Cavco Industries, Inc. has a 52-week low of $390.46 and a 52-week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 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 during the quarter, compared to the consensus estimate of $524.97 million. Equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Cavco Industries Company Profile

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.