Public Sector Pension Investment Board cut its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,239 shares of the construction company’s stock after selling 2,600 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Cavco Industries worth $3,759,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CVCO. Penserra Capital Management LLC increased its stake in Cavco Industries by 25.0% in the third quarter. Penserra Capital Management LLC now owns 310 shares of the construction company’s stock worth $59,000 after purchasing an additional 62 shares during the period. Bank of Montreal Can increased its stake in shares of Cavco Industries by 24.0% during the fourth quarter. Bank of Montreal Can now owns 1,385 shares of the construction company’s stock valued at $270,000 after buying an additional 268 shares during the period. ProShare Advisors LLC increased its stake in shares of Cavco Industries by 17.1% during the fourth quarter. ProShare Advisors LLC now owns 1,403 shares of the construction company’s stock valued at $274,000 after buying an additional 205 shares during the period. ARGI Investment Services LLC purchased a new position in shares of Cavco Industries during the fourth quarter valued at $278,000. Finally, SG Americas Securities LLC purchased a new position in shares of Cavco Industries during the fourth quarter valued at $283,000. Institutional investors own 93.08% of the company’s stock.
CVCO traded up $20.93 on Thursday, hitting $163.13. The company had a trading volume of 11,903 shares, compared to its average volume of 78,098. The stock has a fifty day moving average price of $195.10 and a 200-day moving average price of $197.99. Cavco Industries, Inc. has a 12-month low of $99.58 and a 12-month high of $236.10. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.42 and a current ratio of 3.10. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 18.30 and a beta of 1.58.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.24. The business had revenue of $273.70 million during the quarter, compared to the consensus estimate of $262.34 million. Cavco Industries had a return on equity of 14.60% and a net margin of 7.93%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $1.44 earnings per share.
CVCO has been the topic of several research reports. BidaskClub lowered Cavco Industries from a “hold” rating to a “sell” rating in a research note on Friday, March 20th. Craig Hallum lifted their target price on Cavco Industries from $192.00 to $215.00 and gave the company a “hold” rating in a research note on Monday, February 3rd.
Cavco Industries Profile
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
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