Punch & Associates Investment Management Inc. Has $24.69 Million Stake in Cavco Industries, Inc. $CVCO

Punch & Associates Investment Management Inc. grew its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 21.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,991 shares of the construction company’s stock after purchasing an additional 8,940 shares during the quarter. Cavco Industries comprises approximately 1.4% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 17th biggest position. Punch & Associates Investment Management Inc.’s holdings in Cavco Industries were worth $24,694,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in Cavco Industries during the 4th quarter worth approximately $46,000. Kemnay Advisory Services Inc. acquired a new position in Cavco Industries in the 4th quarter valued at $50,000. Los Angeles Capital Management LLC bought a new position in Cavco Industries during the 4th quarter worth $54,000. Osaic Holdings Inc. increased its position in Cavco Industries by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Cavco Industries during the third quarter worth $58,000. Institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, UBS Group initiated coverage on shares of Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $625.00.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $569.77 on Friday. The stock has a fifty day moving average price of $565.24 and a 200-day moving average price of $553.70. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 23.77 and a beta of 1.28. Cavco Industries, Inc. has a fifty-two week low of $397.38 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The company had revenue of $550.13 million for the quarter, compared to analysts’ expectations of $571.06 million. Research analysts predict that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the sale, the executive vice president directly owned 9,147 shares in the company, valued at $5,716,875. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Paul Bigbee sold 200 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares in the company, valued at $594,213.75. The trade was a 15.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,541 shares of company stock valued at $2,121,932 over the last quarter. 1.70% of the stock is owned by company insiders.

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.