Sei Investments Co. Grows Stock Holdings in Cavco Industries, Inc. $CVCO

Sei Investments Co. raised its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 82.7% in the 1st quarter, HoldingsChannel reports. The fund owned 12,494 shares of the construction company’s stock after acquiring an additional 5,655 shares during the period. Sei Investments Co.’s holdings in Cavco Industries were worth $6,051,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CVCO. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cavco Industries by 852,093.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after purchasing an additional 1,797,917 shares during the last quarter. Boston Partners increased its stake in Cavco Industries by 82.8% in the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock valued at $213,866,000 after purchasing an additional 167,230 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Cavco Industries by 53.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock valued at $126,166,000 after purchasing an additional 74,542 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Cavco Industries by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company’s stock worth $43,806,000 after buying an additional 40,832 shares during the period. Finally, Bamco Inc. NY acquired a new stake in Cavco Industries in the 4th quarter worth about $21,903,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 0.3%

CVCO stock opened at $545.64 on Tuesday. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 23.74 and a beta of 1.29. The business has a fifty day simple moving average of $574.46 and a 200-day simple moving average of $549.94. Cavco Industries, Inc. has a 52 week low of $422.26 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The firm had revenue of $609.96 million during the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. As a group, analysts expect that Cavco Industries, Inc. will post 24.5 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the sale, the director owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This represents a 7.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allison Aden sold 1,473 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the transaction, the executive vice president owned 9,147 shares in the company, valued at $5,716,875. The trade was a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,571 shares of company stock worth $2,139,031. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CVCO. UBS Group started coverage on Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $700.00.

Cavco Industries Company 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.