Cavco Industries, Inc. (CVCO) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. raised its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 129.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,684 shares of the construction company’s stock after buying an additional 22,413 shares during the period. Prudential Financial Inc. owned about 0.44% of Cavco Industries worth $5,145,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CVCO. Teachers Advisors LLC boosted its holdings in Cavco Industries by 3.6% in the 4th quarter. Teachers Advisors LLC now owns 17,568 shares of the construction company’s stock worth $1,754,000 after buying an additional 614 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Cavco Industries by 79.7% in the 1st quarter. Russell Investments Group Ltd. now owns 5,995 shares of the construction company’s stock worth $697,000 after buying an additional 2,658 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Cavco Industries by 2.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 12,116 shares of the construction company’s stock worth $1,410,000 after buying an additional 327 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Cavco Industries by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 228,454 shares of the construction company’s stock worth $26,591,000 after buying an additional 4,220 shares during the last quarter. Finally, Suntrust Banks Inc. acquired a new stake in Cavco Industries in the 1st quarter worth about $233,000. Institutional investors own 92.49% of the company’s stock.
In other Cavco Industries news, Director William C. Boor sold 3,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total value of $391,770.00. Following the completion of the transaction, the director now directly owns 6,397 shares of the company’s stock, valued at $835,384.23. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.44% of the company’s stock.
Cavco Industries, Inc. (NASDAQ:CVCO) opened at 141.00 on Tuesday. The firm has a market capitalization of $1.27 billion, a PE ratio of 29.08 and a beta of 1.54. The stock’s 50 day moving average price is $132.78 and its 200 day moving average price is $123.83. Cavco Industries, Inc. has a one year low of $88.65 and a one year high of $143.10.
Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.20. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. The company had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. During the same period last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts expect that Cavco Industries, Inc. will post $4.91 EPS for the current year.
Several research analysts have recently weighed in on the company. BidaskClub upgraded Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Sidoti upgraded Cavco Industries from a “neutral” rating to a “buy” rating in a report on Friday, August 25th.
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Cavco Industries Company 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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