Texas Permanent School Fund Lowers Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Texas Permanent School Fund reduced its position in Cavco Industries, Inc. (NASDAQ:CVCOGet Rating) by 3.3% in the 3rd quarter, Holdings Channel reports. The fund owned 5,955 shares of the construction company’s stock after selling 205 shares during the period. Texas Permanent School Fund’s holdings in Cavco Industries were worth $1,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors grew its stake in Cavco Industries by 31.4% in the 2nd quarter. Captrust Financial Advisors now owns 393 shares of the construction company’s stock worth $77,000 after acquiring an additional 94 shares during the period. US Bancorp DE grew its stake in shares of Cavco Industries by 25.2% during the 1st quarter. US Bancorp DE now owns 388 shares of the construction company’s stock valued at $94,000 after buying an additional 78 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Cavco Industries by 13,920.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 701 shares of the construction company’s stock valued at $137,000 after buying an additional 696 shares during the period. KBC Group NV purchased a new stake in shares of Cavco Industries during the 2nd quarter valued at $145,000. Finally, Zebra Capital Management LLC purchased a new stake in shares of Cavco Industries during the 1st quarter valued at $209,000. 93.32% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Trading Up 2.3 %

NASDAQ:CVCO opened at $256.25 on Friday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 8.76 and a beta of 1.14. The firm’s fifty day simple moving average is $227.53 and its 200 day simple moving average is $228.88. Cavco Industries, Inc. has a twelve month low of $179.47 and a twelve month high of $305.21.

Cavco Industries (NASDAQ:CVCOGet Rating) last posted its earnings results on Thursday, November 3rd. The construction company reported $8.25 earnings per share for the quarter, beating the consensus estimate of $4.83 by $3.42. The business had revenue of $577.39 million for the quarter, compared to analyst estimates of $550.30 million. Cavco Industries had a net margin of 12.69% and a return on equity of 27.72%. On average, analysts predict that Cavco Industries, Inc. will post 27.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Craig Hallum lowered their price objective on shares of Cavco Industries from $335.00 to $290.00 in a research note on Monday, November 7th. StockNews.com cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 4th.

Cavco Industries Profile

(Get Rating)

Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands.

Further Reading

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Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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