NorthCrest Asset Manangement LLC Takes Position in Cavco Industries, Inc. (NASDAQ:CVCO)

NorthCrest Asset Manangement LLC bought a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,247 shares of the construction company's stock, valued at approximately $648,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVCO. FMR LLC raised its holdings in shares of Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after purchasing an additional 160,899 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Cavco Industries in the fourth quarter valued at $5,376,000. Charles Schwab Investment Management Inc. increased its stake in Cavco Industries by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock valued at $49,521,000 after buying an additional 1,524 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Cavco Industries during the 4th quarter worth about $215,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Cavco Industries during the 4th quarter worth about $308,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Trading Up 0.3%

NASDAQ CVCO traded up $1.08 during midday trading on Wednesday, hitting $402.03. The company had a trading volume of 220,573 shares, compared to its average volume of 86,801. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $549.99. The firm has a 50-day moving average price of $474.21 and a 200-day moving average price of $486.99. The company has a market capitalization of $3.22 billion, a PE ratio of 19.37 and a beta of 1.16.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.23 by $0.17. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. The business had revenue of $508.36 million for the quarter, compared to analysts' expectations of $504.15 million. On average, equities analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on CVCO shares. Wedbush reaffirmed a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Tuesday, May 27th. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th.

Cavco Industries Company 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.