Vanguard Group Inc. Lowers Stake in Cavco Industries, Inc. $CVCO

Vanguard Group Inc. decreased its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 771,833 shares of the construction company’s stock after selling 32,273 shares during the period. Vanguard Group Inc. owned 9.89% of Cavco Industries worth $448,227,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Cavco Industries by 5,371.3% during the 2nd quarter. Boston Partners now owns 201,947 shares of the construction company’s stock worth $87,847,000 after purchasing an additional 198,256 shares during the period. Schroder Investment Management Group increased its stake in Cavco Industries by 76.9% in the second quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company’s stock valued at $56,522,000 after purchasing an additional 56,578 shares during the last quarter. Voya Investment Management LLC lifted its position in Cavco Industries by 737.9% during the third quarter. Voya Investment Management LLC now owns 45,348 shares of the construction company’s stock worth $26,335,000 after buying an additional 39,936 shares during the period. Jump Financial LLC boosted its stake in Cavco Industries by 3,047.3% in the 2nd quarter. Jump Financial LLC now owns 23,070 shares of the construction company’s stock worth $10,022,000 after buying an additional 22,337 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Cavco Industries by 41.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 76,586 shares of the construction company’s stock worth $33,271,000 after buying an additional 22,300 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVCO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 29th. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. Zacks Research lowered Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Finally, CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cavco Industries currently has an average rating of “Moderate Buy” and an average target price of $550.00.

Cavco Industries Stock Performance

Cavco Industries stock opened at $580.95 on Thursday. The firm has a market capitalization of $4.51 billion, a PE ratio of 25.24 and a beta of 1.32. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The stock’s 50 day moving average price is $605.30 and its 200 day moving average price is $569.09.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The firm had revenue of $580.99 million for the quarter, compared to analysts’ expectations of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. On average, analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Steven W. Moster bought 300 shares of Cavco Industries stock in a transaction dated Monday, February 2nd. The stock was bought at an average cost of $456.23 per share, for a total transaction of $136,869.00. Following the purchase, the director owned 2,976 shares in the company, valued at $1,357,740.48. This represents a 11.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Greenblatt acquired 413 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were bought at an average cost of $463.01 per share, with a total value of $191,223.13. Following the completion of the acquisition, the director owned 15,989 shares in the company, valued at $7,403,066.89. This represents a 2.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 1,800 shares of company stock valued at $866,592 in the last ninety days. Insiders own 1.60% of the company’s stock.

About Cavco Industries

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.