Hsbc Holdings PLC Invests $898,000 in Cavco Industries, Inc. $CVCO

Hsbc Holdings PLC bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,516 shares of the construction company’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVCO. Aster Capital Management DIFC Ltd bought a new stake in Cavco Industries in the fourth quarter valued at $46,000. Kemnay Advisory Services Inc. bought a new position in Cavco Industries in the 4th quarter worth $50,000. Los Angeles Capital Management LLC purchased a new stake in shares of Cavco Industries in the 4th quarter worth about $54,000. Osaic Holdings Inc. lifted its position in shares of Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Cavco Industries during the 3rd quarter valued at about $58,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Down 2.1%

CVCO opened at $555.08 on Tuesday. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 23.16 and a beta of 1.28. The stock has a fifty day simple moving average of $548.76 and a two-hundred day simple moving average of $555.17. Cavco Industries, Inc. has a 12-month low of $397.38 and a 12-month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. The firm had revenue of $550.13 million for the quarter, compared to analysts’ expectations of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. On average, analysts predict that Cavco Industries, Inc. will post 24.5 EPS for the current year.

Analyst Ratings Changes

CVCO has been the topic of several research analyst reports. UBS Group initiated coverage on shares of Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 price target on the stock. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average price target of $625.00.

Insider Activity at Cavco Industries

In related news, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the sale, the executive vice president owned 9,147 shares of the company’s stock, valued at $5,716,875. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the sale, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,541 shares of company stock valued at $2,121,932 in the last three months. Company insiders own 1.70% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.