Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 24.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,065 shares of the construction company's stock after selling 17,679 shares during the quarter. Bank of New York Mellon Corp owned about 0.69% of Cavco Industries worth $29,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Huntleigh Advisors Inc. lifted its stake in shares of Cavco Industries by 16.2% in the first quarter. Huntleigh Advisors Inc. now owns 1,467 shares of the construction company's stock worth $762,000 after buying an additional 204 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in Cavco Industries by 4.1% during the first quarter. OneDigital Investment Advisors LLC now owns 2,229 shares of the construction company's stock valued at $1,158,000 after buying an additional 87 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Cavco Industries by 1.5% during the first quarter. Principal Financial Group Inc. now owns 42,761 shares of the construction company's stock valued at $22,220,000 after buying an additional 638 shares during the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Cavco Industries in the first quarter worth $208,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Cavco Industries by 62.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company's stock worth $6,402,000 after purchasing an additional 4,779 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Wall Street Analyst Weigh In

CVCO has been the subject of several research analyst reports. Wedbush reaffirmed a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Cavco Industries Stock Up 0.3%

Shares of Cavco Industries stock traded up $1.17 on Thursday, reaching $429.02. The stock had a trading volume of 139,286 shares, compared to its average volume of 84,124. The company has a 50 day moving average price of $451.83 and a 200 day moving average price of $480.59. Cavco Industries, Inc. has a 1 year low of $351.28 and a 1 year high of $549.99. The stock has a market capitalization of $3.47 billion, a P/E ratio of 20.67 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.17. The company had revenue of $508.36 million for the quarter, compared to the consensus estimate of $504.15 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. On average, analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share 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.