Neumeier Poma Investment Counsel LLC Makes New Investment in Cavco Industries, Inc. $CVCO

Neumeier Poma Investment Counsel LLC bought a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 69,707 shares of the construction company’s stock, valued at approximately $42,826,587. Cavco Industries makes up about 0.0% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 17th biggest holding. Neumeier Poma Investment Counsel LLC owned about 0.91% of Cavco Industries as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Cavco Industries by 5.2% during the first quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock valued at $9,849,000 after acquiring an additional 934 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cavco Industries by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after buying an additional 90 shares during the period. United Services Automobile Association bought a new stake in shares of Cavco Industries in the first quarter worth $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cavco Industries by 15.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock valued at $9,289,000 after buying an additional 2,384 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Cavco Industries by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after purchasing an additional 22 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVCO shares. UBS Group assumed coverage on shares of Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 price objective on the stock. Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zelman & Associates lowered Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cavco Industries currently has a consensus rating of “Hold” and a consensus price target of $700.00.

Insider Buying and Selling

In other news, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were 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 approximately $5,716,875. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Paul Bigbee sold 342 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total value of $202,464.00. Following the completion of the transaction, the chief accounting officer directly owned 736 shares of the company’s stock, valued at approximately $435,712. This trade represents a 31.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,553 shares of company stock worth $2,159,368. Corporate insiders own 1.70% of the company’s stock.

Cavco Industries Stock Performance

Cavco Industries stock traded down $0.17 during midday trading on Friday, reaching $570.10. The stock had a trading volume of 48,877 shares, compared to its average volume of 154,846. The firm’s fifty day simple moving average is $582.80 and its 200-day simple moving average is $546.65. Cavco Industries, Inc. has a 1-year low of $443.33 and a 1-year high of $713.01. The stock has a market capitalization of $4.38 billion, a P/E ratio of 24.81 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 EPS 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. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

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.