Cascade Investment Advisors Inc. Purchases Shares of 2,527 Cavco Industries, Inc. $CVCO

Cascade Investment Advisors Inc. purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,527 shares of the construction company’s stock, valued at approximately $1,098,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Cavco Industries by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock valued at $402,631,000 after buying an additional 37,249 shares during the last quarter. Invesco Ltd. increased its stake in Cavco Industries by 7.5% in the 1st quarter. Invesco Ltd. now owns 196,210 shares of the construction company’s stock valued at $101,957,000 after buying an additional 13,753 shares during the last quarter. GW&K Investment Management LLC increased its stake in Cavco Industries by 0.8% in the 1st quarter. GW&K Investment Management LLC now owns 190,227 shares of the construction company’s stock valued at $98,848,000 after buying an additional 1,512 shares during the last quarter. Broad Bay Capital Management LP grew its position in shares of Cavco Industries by 18.3% in the 1st quarter. Broad Bay Capital Management LP now owns 178,189 shares of the construction company’s stock valued at $92,592,000 after acquiring an additional 27,503 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Cavco Industries by 64.0% in the 1st quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock valued at $80,940,000 after acquiring an additional 60,779 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Stock Performance

Shares of CVCO stock opened at $497.78 on Monday. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 21.58 and a beta of 1.23. The company has a 50-day simple moving average of $523.68 and a 200 day simple moving average of $482.09. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $600.00.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, topping the consensus estimate of $5.81 by $0.61. The business had revenue of $556.86 million during the quarter, compared to the consensus estimate of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. Sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on CVCO shares. Wall Street Zen downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Wedbush reissued a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cavco Industries in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $522.50.

Insider Buying and Selling

In related news, Director Susan L. Blount sold 2,500 shares of Cavco Industries stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the completion of the sale, the director owned 3,126 shares of the company’s stock, valued at approximately $1,623,331.80. The trade was a 44.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total transaction of $240,275.00. Following the sale, the director directly owned 7,169 shares of the company’s stock, valued at $3,445,062.95. The trade was a 6.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,600 shares of company stock valued at $2,820,884. Company insiders own 1.60% of the company’s stock.

Cavco Industries Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.