Teacher Retirement System of Texas Raises Stock Position in Cavco Industries, Inc. $CVCO

Teacher Retirement System of Texas grew its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 244.7% during the second quarter, Holdings Channel reports. The firm owned 15,479 shares of the construction company’s stock after purchasing an additional 10,989 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cavco Industries were worth $6,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVCO. Stephens Inc. AR boosted its holdings in 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 in the last quarter. HighTower Advisors LLC grew its position in Cavco Industries by 2.6% during the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company’s stock worth $816,000 after purchasing an additional 40 shares during the last quarter. Evergreen Capital Management LLC raised its position in Cavco Industries by 7.5% in the first quarter. Evergreen Capital Management LLC now owns 573 shares of the construction company’s stock worth $298,000 after acquiring an additional 40 shares in the last quarter. Arizona State Retirement System raised its position in Cavco Industries by 1.9% in the first quarter. Arizona State Retirement System now owns 2,197 shares of the construction company’s stock worth $1,142,000 after acquiring an additional 41 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in Cavco Industries by 1.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 3,773 shares of the construction company’s stock worth $1,639,000 after acquiring an additional 41 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVCO shares. 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 Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cavco Industries in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cavco Industries has an average rating of “Moderate Buy” and a consensus target price of $522.50.

Insider Buying and Selling at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total transaction of $240,275.00. Following the completion of the sale, the director owned 7,169 shares in the company, valued at $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 300 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the sale, the chief accounting officer owned 774 shares of the company’s stock, valued at approximately $410,568.30. The trade was a 27.93% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,600 shares of company stock worth $2,820,884. 1.60% of the stock is currently owned by insiders.

Cavco Industries Price Performance

Shares of CVCO stock opened at $504.00 on Friday. The firm has a market cap of $3.99 billion, a P/E ratio of 21.85 and a beta of 1.23. The stock’s 50-day moving average is $546.02 and its two-hundred day moving average is $488.02. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $602.57.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $6.30 by $0.25. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. As a group, research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

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.