Pinebridge Investments L.P. lifted its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 207.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,191 shares of the construction company’s stock after purchasing an additional 4,853 shares during the quarter. Pinebridge Investments L.P. owned about 0.08% of Cavco Industries worth $1,133,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CVCO. AdvisorNet Financial Inc purchased a new position in Cavco Industries during the 2nd quarter valued at $29,000. Acadian Asset Management LLC purchased a new position in Cavco Industries during the 2nd quarter valued at $64,000. Flinton Capital Management LLC boosted its holdings in Cavco Industries by 42.4% during the 2nd quarter. Flinton Capital Management LLC now owns 752 shares of the construction company’s stock valued at $118,000 after acquiring an additional 224 shares during the period. Riverhead Capital Management LLC boosted its holdings in Cavco Industries by 33.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 800 shares of the construction company’s stock valued at $126,000 after acquiring an additional 200 shares during the period. Finally, Meadow Creek Investment Management LLC boosted its holdings in Cavco Industries by 42.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 1,034 shares of the construction company’s stock valued at $163,000 after acquiring an additional 308 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.

NASDAQ CVCO traded up $0.11 on Thursday, reaching $197.70. 2,263 shares of the stock traded hands, compared to its average volume of 111,289. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.06 and a current ratio of 2.73. The company has a fifty day moving average price of $184.30 and a 200-day moving average price of $149.59. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 26.44 and a beta of 1.60. Cavco Industries, Inc. has a 12 month low of $112.00 and a 12 month high of $257.20.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Monday, July 29th. The construction company reported $2.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.44. The business had revenue of $264.04 million during the quarter, compared to analyst estimates of $256.38 million. Cavco Industries had a return on equity of 13.48% and a net margin of 7.16%. Cavco Industries’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 EPS.

A number of research firms recently issued reports on CVCO. Craig Hallum boosted their price objective on Cavco Industries from $153.00 to $173.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. BidaskClub upgraded Cavco Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th.

Cavco Industries Company Profile

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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