Cavco Industries, Inc. $CVCO Stake Raised by First Trust Advisors LP

First Trust Advisors LP grew its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 28.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,380 shares of the construction company’s stock after purchasing an additional 978 shares during the period. First Trust Advisors LP owned about 0.06% of Cavco Industries worth $2,121,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KBC Group NV grew its position in Cavco Industries by 257.3% during the first quarter. KBC Group NV now owns 904 shares of the construction company’s stock valued at $438,000 after purchasing an additional 651 shares in the last quarter. Bessemer Group Inc. lifted its position in Cavco Industries by 3.5% in the 1st 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 in the last quarter. Illinois Municipal Retirement Fund lifted its position in Cavco Industries by 5.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 4,517 shares of the construction company’s stock worth $2,188,000 after buying an additional 229 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Cavco Industries by 28.3% during the 1st quarter. Sanctuary Advisors LLC now owns 440 shares of the construction company’s stock valued at $213,000 after buying an additional 97 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Cavco Industries by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 53,306 shares of the construction company’s stock valued at $25,816,000 after buying an additional 1,743 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 2.4%

CVCO stock opened at $592.23 on Friday. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 25.77 and a beta of 1.29. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01. The firm has a 50 day moving average of $577.93 and a two-hundred day moving average of $547.80.

Cavco Industries (NASDAQ:CVCO) last released its quarterly 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). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The business had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. On average, research analysts expect that Cavco Industries, Inc. will post 22.75 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 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 transaction, the executive vice president directly owned 9,147 shares of the company’s stock, valued at $5,716,875. This represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the transaction, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,571 shares of company stock worth $2,139,031. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Finally, UBS Group started coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given 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 stock has an average rating of “Hold” and an average target price of $700.00.

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.