Cavco Industries, Inc. $CVCO Stock: Robeco Schweiz AG Trims Stake

Robeco Schweiz AG lessened its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 44.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,200 shares of the construction company’s stock after selling 13,000 shares during the quarter. Robeco Schweiz AG’s holdings in Cavco Industries were worth $9,076,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in Cavco Industries in the 2nd quarter worth about $767,112,000. Jupiter Topco LLC bought a new stake in Cavco Industries during the 2nd quarter valued at about $42,954,000. Neumeier Poma Investment Counsel LLC purchased a new position in Cavco Industries in the second quarter worth about $42,826,587. Bessemer Group Inc. raised its holdings in Cavco Industries by 3.5% in the first quarter. Bessemer Group Inc. now owns 59,878 shares of the construction company’s stock worth $28,998,000 after buying an additional 2,008 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new position in Cavco Industries in the second quarter worth about $33,133,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity

In related news, CAO Paul Bigbee sold 342 shares of Cavco Industries stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the completion of the sale, the chief accounting officer owned 736 shares of the company’s stock, valued at $435,712. The trade was a 31.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Trading Down 2.4%

NASDAQ:CVCO opened at $534.25 on Friday. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01. The company has a market cap of $4.11 billion, a PE ratio of 23.25 and a beta of 1.27. The company has a 50 day simple moving average of $552.25 and a two-hundred day simple moving average of $550.49.

Cavco Industries (NASDAQ:CVCO) last announced 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 company had revenue of $609.96 million for the quarter, compared to analysts’ expectations of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. Research analysts forecast that Cavco Industries, Inc. will post 22.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CVCO shares. Weiss Ratings upgraded shares of Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Oppenheimer initiated coverage on shares of Cavco Industries in a report on Wednesday, September 30th. They set an “outperform” rating and a $720.00 price target on the stock. Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Cavco Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $710.00.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.