Great West Life Assurance Co. Can lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,897 shares of the construction company’s stock after selling 736 shares during the period. Great West Life Assurance Co. Can’s holdings in Cavco Industries were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in Cavco Industries by 174.8% during the second quarter. Acadian Asset Management LLC now owns 599 shares of the construction company’s stock worth $124,000 after buying an additional 381 shares during the last quarter. Fiera Capital Corp bought a new position in Cavco Industries during the second quarter worth about $208,000. Janney Montgomery Scott LLC bought a new position in Cavco Industries during the second quarter worth about $216,000. Profund Advisors LLC bought a new position in Cavco Industries during the first quarter worth about $213,000. Finally, Amalgamated Bank bought a new position in Cavco Industries during the first quarter worth about $215,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.

A number of brokerages have issued reports on CVCO. Craig Hallum set a $230.00 target price on Cavco Industries and gave the stock a “hold” rating in a report on Wednesday, August 8th. BidaskClub lowered Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th.

NASDAQ CVCO opened at $250.95 on Tuesday. The stock has a market cap of $2.33 billion, a PE ratio of 37.19 and a beta of 1.48. The company has a current ratio of 2.44, a quick ratio of 1.82 and a debt-to-equity ratio of 0.07. Cavco Industries, Inc. has a one year low of $136.20 and a one year high of $261.80.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Tuesday, August 7th. The construction company reported $2.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.57. The company had revenue of $246.40 million for the quarter, compared to analyst estimates of $233.10 million. Cavco Industries had a return on equity of 14.34% and a net margin of 7.62%. Cavco Industries’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share.

In other news, insider Charles E. Lott sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $244.60, for a total transaction of $489,200.00. Following the sale, the insider now owns 4,505 shares of the company’s stock, valued at $1,101,923. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joseph H. Stegmayer sold 11,740 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $240.44, for a total value of $2,822,765.60. Following the sale, the chief executive officer now directly owns 522,739 shares in the company, valued at approximately $125,687,365.16. The disclosure for this sale can be found here. Company insiders own 8.46% of the company’s stock.

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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