South Shore Capital Advisors Makes New $957,000 Investment in Cavco Industries, Inc. $CVCO

South Shore Capital Advisors acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,620 shares of the construction company’s stock, valued at approximately $957,000. Cavco Industries comprises approximately 0.7% of South Shore Capital Advisors’ investment portfolio, making the stock its 29th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new position in shares of Cavco Industries during the third quarter worth about $819,000. Jump Financial LLC grew its holdings in shares of Cavco Industries by 3,047.3% during the second quarter. Jump Financial LLC now owns 23,070 shares of the construction company’s stock worth $10,022,000 after purchasing an additional 22,337 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Cavco Industries by 74.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,317 shares of the construction company’s stock worth $9,580,000 after purchasing an additional 6,942 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of Cavco Industries by 62.6% during the third quarter. Confluence Investment Management LLC now owns 12,287 shares of the construction company’s stock worth $7,135,000 after purchasing an additional 4,729 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Cavco Industries during the second quarter worth about $1,238,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Shares of CVCO opened at $481.27 on Tuesday. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 20.91 and a beta of 1.33. The firm has a 50-day simple moving average of $532.16 and a 200-day simple moving average of $566.59.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The business had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. Equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on CVCO shares. Weiss Ratings lowered Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Zelman & Associates upgraded shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday. Finally, CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Insider Transactions at Cavco Industries

In other news, Director Steven W. Moster acquired 300 shares of Cavco Industries stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average price of $456.23 per share, for a total transaction of $136,869.00. Following the completion of the transaction, the director directly owned 2,976 shares in the company, valued at approximately $1,357,740.48. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William C. Boor acquired 1,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average price of $495.00 per share, with a total value of $495,000.00. Following the transaction, the chief executive officer owned 48,022 shares of the company’s stock, valued at $23,770,890. This trade represents a 2.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 1,800 shares of company stock worth $866,592. Company 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.