Pacer Advisors Inc. Decreases Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Pacer Advisors Inc. trimmed its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,662 shares of the construction company’s stock after selling 5,472 shares during the period. Pacer Advisors Inc. owned about 2.46% of Cavco Industries worth $70,502,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVCO. Blue Trust Inc. raised its holdings in shares of Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after buying an additional 99 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Cavco Industries during the 1st quarter valued at about $60,000. nVerses Capital LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at about $138,000. SG Americas Securities LLC purchased a new position in shares of Cavco Industries during the 1st quarter valued at about $197,000. Finally, TradeLink Capital LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at about $202,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $435.77 on Friday. The stock has a market capitalization of $3.61 billion, a P/E ratio of 23.75 and a beta of 1.24. Cavco Industries, Inc. has a one year low of $233.84 and a one year high of $444.90. The business’s 50 day simple moving average is $399.48 and its two-hundred day simple moving average is $377.10.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same quarter in the prior year, the business posted $5.29 earnings per share. Sell-side analysts expect that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In other news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,663 shares of company stock worth $1,882,930. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on CVCO shares. Craig Hallum lifted their price target on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a research note on Friday, August 2nd.

Cavco Industries Company Profile

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.