NorthCrest Asset Manangement LLC Acquires Shares of 1,247 Cavco Industries, Inc. (NASDAQ:CVCO)

NorthCrest Asset Manangement LLC acquired a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,247 shares of the construction company's stock, valued at approximately $648,000.

A number of other hedge funds have also recently bought and sold shares of CVCO. Principal Financial Group Inc. lifted its holdings in Cavco Industries by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 42,123 shares of the construction company's stock worth $18,797,000 after buying an additional 790 shares during the last quarter. Truist Financial Corp raised its stake in Cavco Industries by 0.8% during the 4th quarter. Truist Financial Corp now owns 12,293 shares of the construction company's stock valued at $5,486,000 after acquiring an additional 96 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Cavco Industries by 10.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 4,565 shares of the construction company's stock valued at $2,037,000 after acquiring an additional 436 shares in the last quarter. Robeco Schweiz AG raised its stake in Cavco Industries by 13.2% during the 4th quarter. Robeco Schweiz AG now owns 23,200 shares of the construction company's stock valued at $10,353,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Cavco Industries by 3.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,497 shares of the construction company's stock valued at $2,007,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Analyst Upgrades and Downgrades

CVCO has been the subject of several research analyst reports. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Wedbush reaffirmed a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Tuesday, May 27th.

Cavco Industries Trading Down 4.7%

NASDAQ CVCO traded down $19.41 during trading on Friday, hitting $396.53. 267,992 shares of the company traded hands, compared to its average volume of 72,044. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $549.99. The business has a fifty day simple moving average of $477.04 and a 200 day simple moving average of $488.54. The company has a market capitalization of $3.18 billion, a P/E ratio of 19.51 and a beta of 1.16.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.17. The company had revenue of $508.36 million during the quarter, compared to the consensus estimate of $504.15 million. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Cavco Industries Profile

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.