Renaissance Technologies LLC Boosts Stake in Cavco Industries, Inc. (CVCO)
Renaissance Technologies LLC grew its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 3.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 334,200 shares of the construction company’s stock after acquiring an additional 10,700 shares during the quarter. Renaissance Technologies LLC owned about 3.71% of Cavco Industries worth $43,329,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CVCO. Texas Permanent School Fund grew its holdings in shares of Cavco Industries by 0.8% in the second quarter. Texas Permanent School Fund now owns 6,172 shares of the construction company’s stock valued at $800,000 after purchasing an additional 51 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Cavco Industries by 1.3% in the second 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. Legal & General Group Plc increased its position in Cavco Industries by 0.9% in the first quarter. Legal & General Group Plc now owns 14,009 shares of the construction company’s stock worth $1,631,000 after purchasing an additional 125 shares during the last quarter. Mason Street Advisors LLC increased its position in Cavco Industries by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock worth $230,000 after purchasing an additional 130 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its position in Cavco Industries by 4.2% in the first quarter. Thrivent Financial For Lutherans now owns 4,750 shares of the construction company’s stock worth $553,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.
Shares of Cavco Industries, Inc. (NASDAQ CVCO) opened at 149.75 on Tuesday. The stock has a 50 day moving average of $134.94 and a 200-day moving average of $125.68. Cavco Industries, Inc. has a 12-month low of $88.65 and a 12-month high of $150.05. The company has a market capitalization of $1.35 billion, a P/E ratio of 30.88 and a beta of 1.56.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.40% and a net margin of 5.56%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. Equities research analysts forecast that Cavco Industries, Inc. will post $4.71 EPS for the current year.
In other news, Director David A. Greenblatt sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $136.68, for a total transaction of $410,040.00. Following the completion of the sale, the director now owns 10,175 shares of the company’s stock, valued at $1,390,719. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.44% of the company’s stock.
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A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Cavco Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. 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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