Public Sector Pension Investment Board Cuts Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

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Public Sector Pension Investment Board cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 11.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,239 shares of the construction company’s stock after selling 2,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cavco Industries were worth $3,759,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Penserra Capital Management LLC increased its position in shares of Cavco Industries by 25.0% in the third quarter. Penserra Capital Management LLC now owns 310 shares of the construction company’s stock valued at $59,000 after buying an additional 62 shares in the last quarter. ARGI Investment Services LLC purchased a new stake in shares of Cavco Industries in the fourth quarter valued at approximately $278,000. Bank of Montreal Can increased its position in shares of Cavco Industries by 24.0% in the fourth quarter. Bank of Montreal Can now owns 1,385 shares of the construction company’s stock valued at $270,000 after buying an additional 268 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Cavco Industries by 17.1% in the fourth quarter. ProShare Advisors LLC now owns 1,403 shares of the construction company’s stock valued at $274,000 after buying an additional 205 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Cavco Industries in the fourth quarter valued at approximately $283,000. Institutional investors and hedge funds own 93.08% of the company’s stock.

Shares of CVCO traded up $20.93 during trading hours on Thursday, hitting $163.13. 11,903 shares of the stock were exchanged, compared to its average volume of 78,098. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.42 and a current ratio of 3.10. Cavco Industries, Inc. has a 12-month low of $99.58 and a 12-month high of $236.10. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 18.30 and a beta of 1.58. The stock’s 50-day moving average price is $195.10 and its two-hundred day moving average price is $197.99.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $2.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.24. Cavco Industries had a return on equity of 14.60% and a net margin of 7.93%. The firm had revenue of $273.70 million during the quarter, compared to analysts’ expectations of $262.34 million. During the same period in the previous year, the business earned $1.44 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis.

A number of research firms have recently commented on CVCO. Craig Hallum boosted their price objective on Cavco Industries from $192.00 to $215.00 and gave the company a “hold” rating in a research report on Monday, February 3rd. BidaskClub cut Cavco Industries from a “hold” rating to a “sell” rating in a research report on Friday, March 20th.

Cavco Industries Company Profile

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 Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.

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

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