Illinois Municipal Retirement Fund Buys 141 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Illinois Municipal Retirement Fund raised its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,529 shares of the construction company’s stock after purchasing an additional 141 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cavco Industries were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CVCO. Norges Bank acquired a new position in Cavco Industries during the 4th quarter worth about $21,059,000. Pacer Advisors Inc. increased its stake in shares of Cavco Industries by 38.0% in the 4th quarter. Pacer Advisors Inc. now owns 169,643 shares of the construction company’s stock valued at $58,802,000 after acquiring an additional 46,726 shares during the last quarter. American Century Companies Inc. increased its stake in Cavco Industries by 18.0% during the 3rd quarter. American Century Companies Inc. now owns 208,156 shares of the construction company’s stock worth $55,299,000 after purchasing an additional 31,707 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Cavco Industries by 16.0% during the 4th quarter. Boston Trust Walden Corp now owns 195,904 shares of the construction company’s stock worth $67,904,000 after acquiring an additional 27,087 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Cavco Industries by 2,280.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 23,594 shares of the construction company’s stock valued at $9,415,000 after buying an additional 22,603 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush increased their price objective on Cavco Industries from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, May 20th.

Cavco Industries Trading Up 2.0 %

CVCO stock traded up $7.30 during trading hours on Friday, hitting $372.41. 67,155 shares of the stock were exchanged, compared to its average volume of 61,449. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $400.99. The firm has a market capitalization of $3.08 billion, a P/E ratio of 20.29 and a beta of 1.23. The company has a 50-day simple moving average of $356.25 and a two-hundred day simple moving average of $357.87.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, May 23rd. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $5.13 by ($1.10). Cavco Industries had a return on equity of 15.46% and a net margin of 8.79%. The company had revenue of $420.12 million during the quarter, compared to the consensus estimate of $499.50 million. On average, equities research analysts predict that Cavco Industries, Inc. will post 19.77 earnings per share for the current year.

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.