Axxcess Wealth Management LLC Takes $1.37 Million Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Axxcess Wealth Management LLC acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,644 shares of the construction company's stock, valued at approximately $1,374,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVCO. FMR LLC lifted its stake in 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. GAMMA Investing LLC raised its position in shares of Cavco Industries by 71,961.9% in the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock worth $119,077,000 after buying an additional 228,839 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock worth $101,324,000 after buying an additional 2,640 shares in the last quarter. Invesco Ltd. raised its position in shares of Cavco Industries by 18.7% in the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock worth $81,418,000 after buying an additional 28,730 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cavco Industries by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock worth $49,521,000 after buying an additional 1,524 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVCO. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wedbush reissued a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a research note on Tuesday, May 27th.

Cavco Industries Stock Performance

CVCO traded up $2.66 during trading on Monday, reaching $452.50. The stock had a trading volume of 170,880 shares, compared to its average volume of 83,062. The stock has a market cap of $3.66 billion, a PE ratio of 21.80 and a beta of 1.15. Cavco Industries, Inc. has a one year low of $351.28 and a one year high of $549.99. The business has a 50-day moving average of $456.48 and a 200-day moving average of $481.23.

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

About Cavco Industries

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.