Banque Pictet & Cie SA Buys Shares of 1,027 Cavco Industries, Inc. (NASDAQ:CVCO)

Banque Pictet & Cie SA acquired a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,027 shares of the construction company's stock, valued at approximately $534,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new stake in shares of Cavco Industries in the fourth quarter worth about $67,000. ClearAlpha Technologies LP bought a new stake in shares of Cavco Industries in the fourth quarter worth about $204,000. DAVENPORT & Co LLC bought a new stake in shares of Cavco Industries in the first quarter worth about $208,000. New Age Alpha Advisors LLC bought a new stake in shares of Cavco Industries in the fourth quarter worth about $215,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Cavco Industries by 58.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock worth $219,000 after purchasing an additional 181 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

Cavco Industries Trading Up 0.3%

Cavco Industries stock traded up $1.38 during trading hours on Friday, hitting $449.84. 128,913 shares of the stock traded hands, compared to its average volume of 82,647. The firm's 50-day moving average price is $457.73 and its two-hundred day moving average price is $480.80. The company has a market cap of $3.64 billion, a PE ratio of 21.67 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.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, beating the consensus estimate 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. On average, sell-side analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a research note 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 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.