Intech Investment Management LLC Increases Stake in Cavco Industries, Inc. $CVCO

by · The Markets Daily

Intech Investment Management LLC boosted its stake in Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 58.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,766 shares of the construction company’s stock after purchasing an additional 2,116 shares during the period. Intech Investment Management LLC’s holdings in Cavco Industries were worth $3,406,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Danske Bank A S purchased a new position in Cavco Industries in the 3rd quarter worth approximately $58,000. CIBC Private Wealth Group LLC increased its stake in Cavco Industries by 72.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after purchasing an additional 50 shares during the period. Osaic Holdings Inc. increased its stake in Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares during the period. Clearstead Advisors LLC increased its stake in Cavco Industries by 186.0% in the 4th quarter. Clearstead Advisors LLC now owns 123 shares of the construction company’s stock worth $73,000 after purchasing an additional 80 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Cavco Industries by 27.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock worth $109,000 after purchasing an additional 40 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Stock Down 0.3%

NASDAQ CVCO opened at $534.89 on Tuesday. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $713.01. The firm has a market capitalization of $4.11 billion, a PE ratio of 22.31 and a beta of 1.31. The stock’s 50 day moving average is $499.76 and its 200 day moving average is $554.67.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, beating the consensus estimate of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The company had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. On average, research analysts anticipate that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 200 shares of Cavco Industries stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the sale, the chief accounting officer directly owned 1,105 shares in the company, valued at $594,213.75. The trade was a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allison Aden sold 129 shares of Cavco Industries stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the sale, the executive vice president owned 8,806 shares in the company, valued at $4,013,422.56. This represents a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 360 shares of company stock worth $182,127 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVCO has been the topic of a number of analyst reports. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Zelman & Associates raised Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $550.00.

View Our Latest Stock Analysis on CVCO

Cavco Industries Profile

(Free Report)

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.

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