Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,730 shares of the construction company’s stock after selling 57 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cavco Industries were worth $1,218,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVCO. Avior Wealth Management LLC acquired a new stake in shares of Cavco Industries during the third quarter worth about $64,000. Smartleaf Asset Management LLC increased its position in shares of Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. increased its position in shares of Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after purchasing an additional 55 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, insider Jack S. Brandom sold 1,000 shares of Cavco Industries stock in a transaction that occurred 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total transaction of $353,775.00. Following the sale, the director now owns 2,836 shares of the company’s stock, valued at approximately $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,644 shares of company stock valued at $4,494,608. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Stock Down 1.6 %

NASDAQ CVCO opened at $512.89 on Friday. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The business’s 50-day moving average price is $507.60 and its 200 day moving average price is $470.36. The firm has a market cap of $4.16 billion, a P/E ratio of 25.24 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 year.

Analyst Ratings Changes

CVCO has been the topic of a number of research reports. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Wedbush reissued a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

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.