Teacher Retirement System of Texas bought a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,939 shares of the construction company’s stock, valued at approximately $448,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of CVCO. Parametric Portfolio Associates LLC increased its stake in Cavco Industries by 41.6% in the second quarter. Parametric Portfolio Associates LLC now owns 4,570 shares of the construction company’s stock valued at $593,000 after acquiring an additional 1,342 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Cavco Industries in the third quarter valued at about $273,000. BNP Paribas Arbitrage SA increased its stake in Cavco Industries by 69.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,364 shares of the construction company’s stock valued at $644,000 after acquiring an additional 1,790 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Cavco Industries by 44.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,830 shares of the construction company’s stock valued at $565,000 after acquiring an additional 1,170 shares during the period. Finally, Rhumbline Advisers increased its stake in Cavco Industries by 2.8% in the third quarter. Rhumbline Advisers now owns 17,392 shares of the construction company’s stock valued at $2,566,000 after acquiring an additional 474 shares during the period. 93.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cavco Industries, Inc. (NASDAQ:CVCO) opened at $178.25 on Friday. The firm has a market cap of $1,587.75, a PE ratio of 36.15 and a beta of 1.46. Cavco Industries, Inc. has a 52 week low of $107.05 and a 52 week high of $182.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.57 and a quick ratio of 1.86.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Tuesday, February 6th. The construction company reported $2.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $1.09. The firm had revenue of $221.40 million for the quarter, compared to analysts’ expectations of $213.87 million. Cavco Industries had a net margin of 6.08% and a return on equity of 10.84%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 earnings per share.
Separately, BidaskClub cut shares of Cavco Industries from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th.
In other Cavco Industries news, CEO Joseph H. Stegmayer sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $172.46, for a total transaction of $1,207,220.00. Following the sale, the chief executive officer now directly owns 520,525 shares of the company’s stock, valued at $89,769,741.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph H. Stegmayer sold 6,112 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $173.83, for a total transaction of $1,062,448.96. Following the sale, the chief executive officer now directly owns 520,525 shares in the company, valued at $90,482,860.75. The disclosure for this sale can be found here. 8.44% of the stock is currently owned by corporate insiders.
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Cavco Industries Company Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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