Cavco Industries, Inc. (NASDAQ:CVCO) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 5.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,056 shares of the construction company’s stock after acquiring an additional 218 shares during the period. State of Tennessee Department of Treasury’s holdings in Cavco Industries were worth $1,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVCO. FMR LLC raised its position in Cavco Industries by 118.8% during the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock worth $132,237,000 after acquiring an additional 160,899 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Cavco Industries during the 4th quarter worth approximately $5,376,000. Charles Schwab Investment Management Inc. lifted its stake in Cavco Industries by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company’s stock valued at $49,521,000 after buying an additional 1,524 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Cavco Industries during the 4th quarter valued at $215,000. Finally, Commonwealth Equity Services LLC purchased a new position in Cavco Industries during the fourth quarter worth $308,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 1.8 %

CVCO stock opened at $497.97 on Wednesday. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 24.51 and a beta of 1.19. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The stock’s fifty day simple moving average is $501.74 and its 200-day simple moving average is $483.84.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the sale, the director now directly owns 15,286 shares of the company’s stock, valued at $8,084,459.68. The trade was a 20.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jack S. Brandom sold 1,000 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $538.00, for a total value of $538,000.00. Following the sale, the insider now owns 1,176 shares of the company’s stock, valued at approximately $632,688. The trade was a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,894 shares of company stock worth $4,140,833. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CVCO shares. Wedbush restated a “neutral” rating and issued a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Friday, April 25th.

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.