Bessemer Group Inc. raised its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,193 shares of the construction company's stock after acquiring an additional 2,176 shares during the period. Bessemer Group Inc. owned 0.64% of Cavco Industries worth $27,121,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new position in Cavco Industries during the 4th quarter valued at approximately $67,000. Smartleaf Asset Management LLC grew its position in shares of Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after acquiring an additional 128 shares during the last quarter. ClearAlpha Technologies LP acquired a new stake in shares of Cavco Industries in the 4th quarter worth about $204,000. New Age Alpha Advisors LLC acquired a new stake in shares of Cavco Industries in the 4th quarter worth about $215,000. Finally, Tower Research Capital LLC TRC lifted its position in Cavco Industries by 58.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock valued at $219,000 after purchasing an additional 181 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wedbush reiterated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Tuesday, May 27th.
Read Our Latest Research Report on CVCO
Cavco Industries Stock Performance
Shares of CVCO stock traded up $5.46 during midday trading on Friday, reaching $430.35. 279,094 shares of the company were exchanged, compared to its average volume of 78,285. The company's 50 day moving average price is $465.27 and its two-hundred day moving average price is $482.51. The company has a market cap of $3.48 billion, a P/E ratio of 20.73 and a beta of 1.16. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $549.99.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results 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 return on equity of 17.00% and a net margin of 8.49%. The firm had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. As a group, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.
Cavco Industries Company Profile
(
Free Report)
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.
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