Cavco Industries, Inc. $CVCO Position Raised by EULAV Asset Management

EULAV Asset Management boosted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,900 shares of the construction company’s stock after buying an additional 1,100 shares during the quarter. EULAV Asset Management’s holdings in Cavco Industries were worth $12,718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CVCO. Salomon & Ludwin LLC bought a new stake in Cavco Industries in the third quarter worth about $31,000. Farther Finance Advisors LLC grew its stake in shares of Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after purchasing an additional 53 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Cavco Industries in the 3rd quarter worth approximately $63,000. Osaic Holdings Inc. raised its holdings in shares of Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Cavco Industries by 1,814.3% during the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock valued at $58,000 after purchasing an additional 127 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the transaction, the director directly owned 6,669 shares of the company’s stock, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

CVCO has been the topic of several recent research reports. Zacks Research lowered shares of Cavco Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, December 29th. Finally, CJS Securities raised Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $692.78 on Friday. The firm’s 50 day moving average price is $596.37 and its two-hundred day moving average price is $536.33. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $707.40. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 28.46 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.30 by $0.25. Cavco Industries had a return on equity of 19.13% and a net margin of 9.18%.The company had revenue of $556.53 million during the quarter, compared to analyst estimates of $542.92 million. On average, research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Cavco Industries Profile

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.