Osterweis Capital Management Inc. Acquires 590 Shares of Cavco Industries, Inc. (CVCO)
Osterweis Capital Management Inc. grew its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,536 shares of the construction company’s stock after purchasing an additional 590 shares during the quarter. Osterweis Capital Management Inc. owned approximately 0.25% of Cavco Industries worth $2,922,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Cavco Industries by 79.7% in the 1st quarter. Russell Investments Group Ltd. now owns 5,995 shares of the construction company’s stock valued at $697,000 after acquiring an additional 2,658 shares during the period. Great West Life Assurance Co. Can raised its position in shares of 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 valued at $1,410,000 after acquiring an additional 327 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 valued at $26,591,000 after acquiring an additional 4,220 shares during the period. Comerica Bank raised its position in shares of Cavco Industries by 4.7% in the 1st quarter. Comerica Bank now owns 9,493 shares of the construction company’s stock valued at $1,144,000 after acquiring an additional 425 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Cavco Industries by 19.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 3,228 shares of the construction company’s stock valued at $376,000 after acquiring an additional 517 shares during the period. 92.66% of the stock is currently owned by institutional investors.
Shares of Cavco Industries, Inc. (CVCO) traded up 0.10% during mid-day trading on Friday, hitting $151.35. 33,871 shares of the company were exchanged. The firm has a 50 day moving average of $137.71 and a 200 day moving average of $126.55. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 31.21 and a beta of 1.57. Cavco Industries, Inc. has a 12-month low of $88.65 and a 12-month high of $153.57.
Cavco Industries (NASDAQ:CVCO) last announced 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. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The business had revenue of $206.80 million for the quarter, compared to analysts’ expectations of $200.70 million. During the same period in the prior year, the business posted $0.60 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Cavco Industries, Inc. will post $4.71 earnings per share for the current year.
A number of analysts recently weighed in on CVCO shares. Sidoti upgraded shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research report on Friday, August 25th. BidaskClub upgraded shares of Cavco Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 16th.
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In related news, Director David A. Greenblatt sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $136.68, for a total value of $410,040.00. Following the sale, the director now directly owns 10,175 shares in the company, valued at $1,390,719. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.44% of the company’s stock.
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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