Cavco Industries, Inc. (CVCO) Shares Sold by Schroder Investment Management Group
Schroder Investment Management Group lowered its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 9.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 233,770 shares of the construction company’s stock after selling 25,099 shares during the period. Schroder Investment Management Group owned 2.59% of Cavco Industries worth $29,771,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robotti Robert increased its position in shares of Cavco Industries by 15.0% in the 2nd quarter. Robotti Robert now owns 172,723 shares of the construction company’s stock worth $18,643,000 after purchasing an additional 22,563 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Cavco Industries in the 2nd quarter worth about $226,000. Oppenheimer Asset Management Inc. increased its position in shares of Cavco Industries by 1.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,572 shares of the construction company’s stock worth $593,000 after purchasing an additional 59 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Cavco Industries in the 2nd quarter worth about $311,000. Finally, Neuberger Berman Group LLC increased its position in shares of Cavco Industries by 3.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 8,076 shares of the construction company’s stock worth $1,047,000 after purchasing an additional 247 shares during the last quarter. 92.49% of the stock is owned by institutional investors.
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CVCO has been the subject of several research analyst reports. BidaskClub raised shares of Cavco Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Sidoti raised shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research report on Friday, August 25th.
Shares of Cavco Industries, Inc. (NASDAQ CVCO) opened at 135.45 on Tuesday. Cavco Industries, Inc. has a 52-week low of $88.65 and a 52-week high of $143.10. The company has a market cap of $1.22 billion, a P/E ratio of 27.93 and a beta of 1.54. The stock has a 50 day moving average of $131.58 and a 200 day moving average of $123.08.
Cavco Industries (NASDAQ:CVCO) last released its earnings results on Monday, August 7th. The construction company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.20. The firm had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. On average, equities analysts anticipate that Cavco Industries, Inc. will post $4.91 earnings per share for the current fiscal year.
In related news, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,397 shares in the company, valued at approximately $835,384.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.44% of the stock is owned by corporate insiders.
About Cavco Industries
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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