Schroder Investment Management Group Decreases Position in Cavco Industries, Inc. $CVCO

Schroder Investment Management Group cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,628 shares of the construction company’s stock after selling 18,478 shares during the period. Schroder Investment Management Group owned approximately 1.43% of Cavco Industries worth $65,373,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new position in shares of Cavco Industries in the third quarter worth about $31,000. Osaic Holdings Inc. lifted its stake 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 valued at $57,000 after acquiring an additional 65 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Cavco Industries by 1,814.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock valued at $58,000 after acquiring an additional 127 shares during the period. Mather Group LLC. bought a new position in Cavco Industries during the 3rd quarter worth approximately $63,000. Finally, Exchange Traded Concepts LLC bought a new position in Cavco Industries during the 3rd quarter worth approximately $86,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Trading Down 0.9%

Cavco Industries stock opened at $521.74 on Wednesday. The firm has a market cap of $4.05 billion, a P/E ratio of 22.66 and a beta of 1.28. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $713.01. The firm has a 50-day moving average of $596.81 and a 200-day moving average of $574.21.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The business had revenue of $580.99 million for the quarter, compared to analysts’ expectations of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. Research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In other Cavco Industries news, CEO William C. Boor bought 1,000 shares of Cavco Industries stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average cost of $495.00 per share, with a total value of $495,000.00. Following the completion of the purchase, the chief executive officer owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. This represents a 2.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven W. Moster bought 300 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were acquired at an average price of $456.23 per share, with a total value of $136,869.00. Following the acquisition, the director owned 2,976 shares of the company’s stock, valued at $1,357,740.48. This represents a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 1,800 shares of company stock worth $866,592. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVCO. CJS Securities raised Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research cut shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings downgraded shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Finally, Zelman & Associates upgraded shares of Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $550.00.

About Cavco Industries

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.