Boston Trust Walden Corp Cuts Stock Holdings in Cavco Industries, Inc. $CVCO

Key Points

• Boston Trust Walden Corp reduced its stake in Cavco Industries by 14.9%, selling 28,616 shares and retaining a total of 163,206 shares valued at approximately $70.9 million.
• Institutional ownership of Cavco Industries is robust, with 95.56% of the stock held by institutional investors and hedge funds, including significant increases from firms like Vanguard and Ameriprise Financial.
• Despite Cavco Industries reporting better-than-expected quarterly earnings with an EPS of $6.42, its stock has seen a slight decline of 0.9% recently, with analysts holding a "Moderate Buy" consensus on the stock.

Boston Trust Walden Corp reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 14.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,206 shares of the construction company's stock after selling 28,616 shares during the period. Boston Trust Walden Corp owned 2.02% of Cavco Industries worth $70,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Cavco Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock valued at $402,631,000 after acquiring an additional 37,249 shares during the last quarter. Invesco Ltd. increased its position in shares of Cavco Industries by 7.5% during the first quarter. Invesco Ltd. now owns 196,210 shares of the construction company's stock worth $101,957,000 after acquiring an additional 13,753 shares during the period. GW&K Investment Management LLC increased its position in shares of Cavco Industries by 0.8% during the first quarter. GW&K Investment Management LLC now owns 190,227 shares of the construction company's stock worth $98,848,000 after acquiring an additional 1,512 shares during the period. Broad Bay Capital Management LP increased its holdings in Cavco Industries by 18.3% in the first quarter. Broad Bay Capital Management LP now owns 178,189 shares of the construction company's stock valued at $92,592,000 after buying an additional 27,503 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Cavco Industries by 64.0% in the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company's stock valued at $80,940,000 after buying an additional 60,779 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the transaction, the director owned 7,169 shares in the company, valued at $3,445,062.95. The trade was a 6.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 completion of the transaction, the director owned 3,126 shares in the company, valued at $1,623,331.80. This represents a 44.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock worth $2,820,884 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Stock Down 0.9%

Shares of NASDAQ CVCO opened at $493.35 on Tuesday. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $600.00. The firm has a fifty day moving average of $524.74 and a 200-day moving average of $481.94. The stock has a market capitalization of $3.91 billion, a PE ratio of 21.38 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced 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. The company had revenue of $556.86 million during the quarter, compared to analysts' expectations of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. Equities research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVCO has been the topic of several research reports. Wedbush reaffirmed a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Cavco Industries in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Cavco Industries presently has an average rating of "Moderate Buy" and a consensus price target of $522.50.

Cavco Industries Company 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.

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