Pier Capital LLC acquired a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,059 shares of the construction company’s stock, valued at approximately $2,960,000. Pier Capital LLC owned approximately 0.22% of Cavco Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Texas Permanent School Fund raised its position in Cavco Industries by 0.8% during the second quarter. Texas Permanent School Fund now owns 6,172 shares of the construction company’s stock valued at $800,000 after acquiring an additional 51 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Cavco Industries by 1.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,572 shares of the construction company’s stock valued at $593,000 after acquiring an additional 59 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Cavco Industries by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,669 shares of the construction company’s stock valued at $864,000 after acquiring an additional 107 shares in the last quarter. Suntrust Banks Inc. raised its position in Cavco Industries by 11.2% during the second quarter. Suntrust Banks Inc. now owns 2,236 shares of the construction company’s stock valued at $288,000 after acquiring an additional 225 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Cavco Industries by 17.8% during the second quarter. Victory Capital Management Inc. now owns 1,517 shares of the construction company’s stock valued at $197,000 after acquiring an additional 229 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director David A. Greenblatt sold 3,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $136.68, for a total value of $410,040.00. Following the transaction, the director now owns 10,175 shares of the company’s stock, valued at $1,390,719. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $146.50, for a total transaction of $586,000.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $586,000. The disclosure for this sale can be found here. Company insiders own 8.44% of the company’s stock.

Several brokerages recently weighed in on CVCO. Sidoti raised shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research report on Friday, August 25th. BidaskClub lowered shares of Cavco Industries from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

Cavco Industries, Inc. (CVCO) opened at $150.05 on Wednesday. Cavco Industries, Inc. has a 52-week low of $93.65 and a 52-week high of $157.80. The firm has a market cap of $1,350.00, a P/E ratio of 34.12 and a beta of 1.60. The company has a current ratio of 2.25, a quick ratio of 1.66 and a debt-to-equity ratio of 0.13.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Tuesday, November 7th. The construction company reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.13). Cavco Industries had a net margin of 5.09% and a return on equity of 10.30%. The firm had revenue of $200.50 million during the quarter, compared to the consensus estimate of $190.87 million. During the same period in the prior year, the business earned $1.04 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

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Cavco Industries Profile

Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.

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

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