Mitsubishi UFJ Asset Management UK Ltd. Makes New Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

by · The Cerbat Gem

Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,500 shares of the construction company’s stock, valued at approximately $642,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. increased its stake in Cavco Industries by 507.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock worth $3,139,000 after purchasing an additional 7,576 shares during the period. First Eagle Investment Management LLC boosted its position in Cavco Industries by 28.8% in the 1st quarter. First Eagle Investment Management LLC now owns 12,328 shares of the construction company’s stock valued at $4,920,000 after buying an additional 2,760 shares during the period. Thrivent Financial for Lutherans grew its stake in Cavco Industries by 37.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after acquiring an additional 2,558 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Cavco Industries during the second quarter worth approximately $931,000. Finally, Bessemer Group Inc. raised its stake in shares of Cavco Industries by 7.1% during the first quarter. Bessemer Group Inc. now owns 34,252 shares of the construction company’s stock valued at $13,668,000 after acquiring an additional 2,263 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

CVCO stock traded up $2.76 during trading on Friday, reaching $448.26. 38,355 shares of the company traded hands, compared to its average volume of 64,977. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 24.43 and a beta of 1.24. The business has a 50 day simple moving average of $414.72 and a 200 day simple moving average of $383.99. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $452.42.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The firm had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. During the same quarter last year, the firm earned $5.29 EPS. As a group, research analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Wall Street Analyst Weigh In

CVCO has been the topic of several research reports. Craig Hallum raised their price objective on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wedbush lifted their price objective on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

View Our Latest Stock Report on Cavco Industries

Insider Transactions at Cavco Industries

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the transaction, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,663 shares of company stock valued at $1,882,930 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Profile

(Free Report)

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.

Further Reading

Want to see what other hedge funds are holding CVCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cavco Industries, Inc. (NASDAQ:CVCO – Free Report).