Cavco Industries, Inc. (CVCO) Stake Boosted by Victory Capital Management Inc.
Victory Capital Management Inc. grew its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 17.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,517 shares of the construction company’s stock after purchasing an additional 229 shares during the period. Victory Capital Management Inc.’s holdings in Cavco Industries were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Texas Permanent School Fund lifted its stake in shares of Cavco Industries by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 6,172 shares of the construction company’s stock valued at $800,000 after purchasing an additional 51 shares during the last quarter. Cadence Capital Management LLC lifted its stake in shares of Cavco Industries by 4.4% in the 1st quarter. Cadence Capital Management LLC now owns 11,784 shares of the construction company’s stock valued at $1,372,000 after purchasing an additional 492 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Cavco Industries in the 1st quarter valued at $202,000. Ashford Capital Management Inc. acquired a new position in shares of Cavco Industries in the 1st quarter valued at $5,967,000. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Cavco Industries in the 2nd quarter valued at $3,371,000. 92.49% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on CVCO. BidaskClub raised Cavco Industries from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Sidoti raised Cavco Industries from a “neutral” rating to a “buy” rating in a research note on Friday, August 25th.
TRADEMARK VIOLATION WARNING: This piece was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/09/22/cavco-industries-inc-cvco-stake-boosted-by-victory-capital-management-inc.html.
In related news, Director David A. Greenblatt sold 3,000 shares of Cavco Industries stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $136.68, for a total value of $410,040.00. Following the transaction, the director now owns 10,175 shares in the company, valued at $1,390,719. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.44% of the stock is owned by insiders.
Cavco Industries, Inc. (CVCO) opened at 138.60 on Friday. The company’s 50-day moving average price is $132.99 and its 200 day moving average price is $123.97. Cavco Industries, Inc. has a 1-year low of $88.65 and a 1-year high of $143.10. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 28.58 and a beta of 1.54.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Monday, August 7th. The construction company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.20. The business had revenue of $206.80 million during the quarter, compared to the consensus estimate of $200.70 million. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, equities analysts expect that Cavco Industries, Inc. will post $4.71 earnings per share for the current fiscal year.
Cavco Industries Profile
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.
Want to see what other hedge funds are holding CVCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cavco Industries, Inc. (NASDAQ:CVCO).
Receive News & Ratings for Cavco Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavco Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.