Teacher Retirement System of Texas purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,939 shares of the construction company’s stock, valued at approximately $448,000.
Other hedge funds also recently made changes to their positions in the company. Tygh Capital Management Inc. raised its position in shares of Cavco Industries by 54.2% during the fourth quarter. Tygh Capital Management Inc. now owns 72,691 shares of the construction company’s stock worth $11,093,000 after acquiring an additional 25,548 shares during the last quarter. RWC Asset Management LLP increased its holdings in Cavco Industries by 22.4% in the third quarter. RWC Asset Management LLP now owns 128,836 shares of the construction company’s stock valued at $19,010,000 after purchasing an additional 23,616 shares during the last quarter. Pier Capital LLC bought a new stake in Cavco Industries in the third quarter valued at about $2,960,000. SG Capital Management LLC grew its stake in Cavco Industries by 203.3% in the fourth quarter. SG Capital Management LLC now owns 17,886 shares of the construction company’s stock valued at $2,729,000 after acquiring an additional 11,988 shares during the period. Finally, EAM Investors LLC grew its stake in Cavco Industries by 113.9% in the third quarter. EAM Investors LLC now owns 16,118 shares of the construction company’s stock valued at $2,378,000 after acquiring an additional 8,584 shares during the period. 93.70% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub raised Cavco Industries from a “hold” rating to a “buy” rating in a research note on Friday.
In other news, CEO Joseph H. Stegmayer sold 6,112 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 520,525 shares in the company, valued at $90,482,860.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph H. Stegmayer sold 7,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $172.46, for a total value of $1,207,220.00. Following the transaction, the chief executive officer now owns 520,525 shares in the company, valued at approximately $89,769,741.50. The disclosure for this sale can be found here. 8.44% of the stock is owned by corporate insiders.
Shares of CVCO stock traded down $5.60 on Friday, hitting $176.90. 52,810 shares of the stock were exchanged, compared to its average volume of 40,298. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.57 and a quick ratio of 1.86. The stock has a market capitalization of $1,598.59, a P/E ratio of 36.40 and a beta of 1.37. Cavco Industries, Inc. has a fifty-two week low of $107.05 and a fifty-two week high of $183.35.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Tuesday, February 6th. The construction company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.24 by $1.09. Cavco Industries had a return on equity of 10.84% and a net margin of 6.08%. The firm had revenue of $221.40 million during the quarter, compared to analysts’ expectations of $213.87 million. During the same period in the prior year, the firm posted $1.35 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year.
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Cavco Industries Company Profile
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. The company operates in two segments, Factory-Built Housing and Financial Services. It markets its manufactured homes under the brand names of Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Homes.
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