Cavco Industries Inc. (CVCO) Shares Up 1.8%
Shares of Cavco Industries Inc. (NASDAQ:CVCO) shot up 1.8% during mid-day trading on Thursday . The company traded as high as $96.19 and last traded at $95.26, with a volume of 66,274 shares trading hands. The stock had previously closed at $93.61.
The stock has a market cap of $865.47 million and a price-to-earnings ratio of 30.74. The stock’s 50 day moving average price is $94.60 and its 200-day moving average price is $87.48.
Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, May 26th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. The firm had revenue of $177.29 million for the quarter. During the same period in the prior year, the company earned $0.66 earnings per share. Cavco Industries’s revenue for the quarter was up 25.5% compared to the same quarter last year. On average, equities analysts predict that Cavco Industries Inc. will post $3.70 EPS for the current year.
In related news, CEO Joseph H. Stegmayer sold 20,000 shares of the stock in a transaction that occurred on Friday, April 15th. The stock was sold at an average price of $89.90, for a total transaction of $1,798,000.00. Following the completion of the transaction, the chief executive officer now directly owns 511,428 shares of the company’s stock, valued at $45,977,377.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Boor sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $86.81, for a total value of $217,025.00. Following the transaction, the director now directly owns 8,122 shares of the company’s stock, valued at $705,070.82. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of CVCO. Russell Frank Co bought a new position in shares of Cavco Industries during the fourth quarter valued at approximately $1,302,000. California State Teachers Retirement System boosted its position in shares of Cavco Industries by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 16,385 shares of the company’s stock valued at $1,365,000 after buying an additional 200 shares during the period. Morgan Stanley boosted its position in shares of Cavco Industries by 708.6% in the fourth quarter. Morgan Stanley now owns 20,498 shares of the company’s stock valued at $1,707,000 after buying an additional 17,963 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Cavco Industries by 57,529.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,662 shares of the company’s stock valued at $2,304,000 after buying an additional 27,614 shares during the period. Finally, EAM Investors LLC bought a new position in shares of Cavco Industries during the fourth quarter valued at approximately $3,967,000.
Cavco Industries, Inc (Cavco) is a producer of manufactured homes in the United States. The Company designs and produces factory-built homes primarily distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. The Company is a builder of park model homes, vacation cabins, and systems-built commercial structures, as well as modular homes.
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