Municipal Employees Retirement System of Michigan Invests $322,000 in Cavco Industries, Inc. (NASDAQ:CVCO) Stock

Municipal Employees Retirement System of Michigan bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,470 shares of the construction company’s stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVCO. Advisor Group Inc. lifted its position in shares of Cavco Industries by 8.6% in the fourth quarter. Advisor Group Inc. now owns 962 shares of the construction company’s stock valued at $126,000 after acquiring an additional 76 shares in the last quarter. Brinker Capital Inc. lifted its position in shares of Cavco Industries by 1.8% in the fourth quarter. Brinker Capital Inc. now owns 5,790 shares of the construction company’s stock worth $755,000 after buying an additional 105 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Cavco Industries by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,749 shares of the construction company’s stock worth $619,000 after buying an additional 119 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Cavco Industries by 4.3% in the fourth quarter. Texas Permanent School Fund now owns 5,596 shares of the construction company’s stock worth $730,000 after buying an additional 233 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Cavco Industries by 10.1% in the fourth quarter. Hsbc Holdings PLC now owns 2,769 shares of the construction company’s stock worth $361,000 after buying an additional 254 shares in the last quarter. Institutional investors own 94.42% of the company’s stock.

Shares of NASDAQ:CVCO traded up $0.01 during mid-day trading on Friday, reaching $125.44. The stock had a trading volume of 82,056 shares, compared to its average volume of 94,825. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.14 billion, a P/E ratio of 16.35 and a beta of 1.94. Cavco Industries, Inc. has a 1 year low of $112.00 and a 1 year high of $261.80.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Monday, February 4th. The construction company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.01). Cavco Industries had a return on equity of 14.62% and a net margin of 7.34%. The firm had revenue of $233.70 million during the quarter, compared to analysts’ expectations of $238.05 million. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Cavco Industries’s quarterly revenue was up 5.6% on a year-over-year basis.

CVCO has been the topic of a number of research analyst reports. BidaskClub downgraded Cavco Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 6th. Craig Hallum decreased their target price on Cavco Industries from $170.00 to $128.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 6th.

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About Cavco Industries

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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