Neumeier Poma Investment Counsel LLC Acquires Shares of 69,707 Cavco Industries, Inc. $CVCO

Neumeier Poma Investment Counsel LLC bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 69,707 shares of the construction company’s stock, valued at approximately $42,826,587,000. Cavco Industries makes up about 2.9% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 17th largest holding. Neumeier Poma Investment Counsel LLC owned about 0.91% of Cavco Industries as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Cavco Industries by 852,093.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after purchasing an additional 1,797,917 shares during the period. BlackRock Inc. purchased a new position in Cavco Industries during the 2nd quarter worth approximately $767,112,000. Boston Partners raised its stake in Cavco Industries by 82.8% during the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock valued at $213,866,000 after purchasing an additional 167,230 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cavco Industries by 53.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock valued at $126,166,000 after purchasing an additional 74,542 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Cavco Industries in the second quarter valued at $28,096,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Zacks Research downgraded Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. UBS Group initiated coverage on Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 price objective for the company. Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $700.00.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $582.55 on Monday. The firm has a fifty day moving average of $584.13 and a two-hundred day moving average of $544.76. Cavco Industries, Inc. has a 12-month low of $443.33 and a 12-month high of $713.01. The firm has a market capitalization of $4.48 billion, a P/E ratio of 25.35 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The company had revenue of $609.96 million during the quarter, compared to analyst estimates of $590.54 million. Equities research analysts expect that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other news, EVP Allison Aden sold 1,473 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the sale, the executive vice president directly owned 9,147 shares of the company’s stock, valued at $5,716,875. This trade represents a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Paul Bigbee sold 342 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the sale, the chief accounting officer directly owned 736 shares of the company’s stock, valued at $435,712. This trade represents a 31.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,753 shares of company stock valued at $2,266,918. Insiders own 1.70% of the company’s stock.

Cavco Industries 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.