Cavco Industries, Inc. (CVCO) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,918 shares of the construction company’s stock after selling 70 shares during the period. Rhumbline Advisers owned approximately 0.19% of Cavco Industries worth $2,193,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Cavco Industries by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 35,704 shares of the construction company’s stock worth $4,630,000 after purchasing an additional 318 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Cavco Industries by 26.4% during the second quarter. Essex Investment Management Co. LLC now owns 19,683 shares of the construction company’s stock worth $2,552,000 after purchasing an additional 4,110 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Cavco Industries by 0.8% during the second quarter. Texas Permanent School Fund now owns 6,172 shares of the construction company’s stock worth $800,000 after purchasing an additional 51 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Cavco Industries by 3.9% during the second quarter. Great West Life Assurance Co. Can now owns 12,591 shares of the construction company’s stock worth $1,629,000 after purchasing an additional 475 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Cavco Industries by 40.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 2,660 shares of the construction company’s stock worth $345,000 after purchasing an additional 760 shares in the last quarter. Institutional investors own 92.49% of the company’s stock.

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In related news, Director William C. Boor sold 3,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total transaction of $391,770.00. Following the sale, the director now directly owns 6,397 shares of the company’s stock, valued at approximately $835,384.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.44% of the company’s stock.

Cavco Industries, Inc. (NASDAQ CVCO) opened at 135.60 on Friday. The stock’s 50 day moving average is $132.14 and its 200-day moving average is $123.49. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 27.96 and a beta of 1.54. Cavco Industries, Inc. has a 12 month low of $88.65 and a 12 month high of $143.10.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.20. The company had revenue of $206.80 million for the quarter, compared to analyst estimates of $200.70 million. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Equities analysts anticipate that Cavco Industries, Inc. will post $4.91 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on CVCO. BidaskClub upgraded shares of Cavco Industries from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Sidoti upgraded shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research report on Friday, August 25th.

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.

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

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