Amundi Has $1.58 Million Stake in Cavco Industries, Inc. $CVCO

Key Points

• Amundi reduced its stake in Cavco Industries, cutting ownership by 20.6%, now holding 3,248 shares valued at $1.58 million.
• Multiple other institutional investors increased their positions in Cavco during the same period, with Northwestern Mutual Wealth Management Co. raising its stake by 2,850%.
• Cavco Industries reported an earnings per share of $6.42 for the last quarter, surpassing analyst expectations of $5.81, along with a revenue of $556.86 million.

Amundi reduced its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 20.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,248 shares of the construction company's stock after selling 841 shares during the period. Amundi's holdings in Cavco Industries were worth $1,580,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Stephens Inc. AR boosted its stake in shares of Cavco Industries by 3.8% during the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company's stock worth $327,000 after acquiring an additional 23 shares in the last quarter. State of Wyoming lifted its stake in Cavco Industries by 0.8% in the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company's stock valued at $1,368,000 after buying an additional 24 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Cavco Industries by 2.6% during the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company's stock worth $816,000 after purchasing an additional 40 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of Cavco Industries by 7.5% during the 1st quarter. Evergreen Capital Management LLC now owns 573 shares of the construction company's stock worth $298,000 after purchasing an additional 40 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Cavco Industries by 1.9% during the 1st quarter. Arizona State Retirement System now owns 2,197 shares of the construction company's stock worth $1,142,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CVCO. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wedbush reiterated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $522.50.

Cavco Industries Price Performance

Shares of CVCO stock traded up $0.37 on Monday, hitting $545.36. The company's stock had a trading volume of 273,678 shares, compared to its average volume of 163,312. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $568.97. The firm's fifty day moving average price is $475.74 and its 200-day moving average price is $477.34. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 23.64 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.61. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The business had revenue of $556.86 million during the quarter, compared to analyst estimates of $524.97 million. Analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 300 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $530.45, for a total transaction of $159,135.00. Following the completion of the transaction, the chief accounting officer owned 774 shares of the company's stock, valued at $410,568.30. The trade was a 27.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Blount sold 2,500 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the transaction, the director directly owned 3,126 shares of the company's stock, valued at approximately $1,623,331.80. This represents a 44.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,600 shares of company stock valued at $2,820,884. Insiders own 1.60% of the company's stock.

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.