Vanguard Group Inc. Boosts Stake in Cavco Industries, Inc. (NASDAQ:CVCO)
Vanguard Group Inc. boosted its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 5.7% during the first quarter, Holdings Channel reports. The firm owned 441,885 shares of the construction company’s stock after buying an additional 23,796 shares during the period. Vanguard Group Inc.’s holdings in Cavco Industries were worth $51,436,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Cavco Industries by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock worth $108,000 after buying an additional 20 shares during the period. Victory Capital Management Inc. raised its stake in shares of Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock worth $150,000 after buying an additional 329 shares during the period. Mason Street Advisors LLC raised its stake in shares of Cavco Industries by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock worth $230,000 after buying an additional 130 shares during the period. Suntrust Banks Inc. acquired a new stake in shares of Cavco Industries during the first quarter worth $233,000. Finally, EULAV Asset Management acquired a new stake in shares of Cavco Industries during the first quarter worth $244,000. 98.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Cavco Industries, Inc. (CVCO) opened at 136.95 on Thursday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 28.24 and a beta of 1.53. The stock has a 50 day moving average price of $131.37 and a 200-day moving average price of $119.09. Cavco Industries, Inc. has a 52 week low of $88.65 and a 52 week high of $143.10.
Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.20. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Cavco Industries, Inc. will post $4.65 earnings per share for the current year.
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Separately, BidaskClub upgraded Cavco Industries from a “sell” rating to a “hold” rating in a research note on Friday, August 4th.
In other Cavco Industries news, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $130.59, for a total value of $391,770.00. Following the completion of the transaction, the director now owns 6,397 shares of the company’s stock, valued at approximately $835,384.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.44% of the stock is owned by corporate insiders.
About Cavco Industries
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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