Cascade Investment Advisors Inc. Takes Position in Cavco Industries, Inc. $CVCO

Key Points

• Cascade Investment Advisors Inc. has acquired 2,527 shares of Cavco Industries, valued at approximately $1,098,000, during the 2nd quarter, as per their Form 13F filing with the SEC.
• Cavco Industries reported an EPS of $6.42 for the latest quarter, surpassing analysts' estimates by $0.61, alongside a net revenue of $556.86 million.
• Insider trades indicate a significant sale, with Director Susan L. Blount selling 2,500 shares worth roughly $1.3 million, showing a 44.44% decrease in ownership.

Cascade Investment Advisors Inc. purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,527 shares of the construction company's stock, valued at approximately $1,098,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Cavco Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock valued at $402,631,000 after purchasing an additional 37,249 shares during the last quarter. Invesco Ltd. boosted its stake in Cavco Industries by 7.5% in the first quarter. Invesco Ltd. now owns 196,210 shares of the construction company's stock valued at $101,957,000 after acquiring an additional 13,753 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Cavco Industries by 0.8% in the first quarter. GW&K Investment Management LLC now owns 190,227 shares of the construction company's stock valued at $98,848,000 after acquiring an additional 1,512 shares during the last quarter. Broad Bay Capital Management LP boosted its stake 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 acquiring an additional 27,503 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 60,779 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

Cavco Industries Stock Performance

CVCO opened at $497.78 on Monday. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $600.00. The firm's fifty day moving average is $523.68 and its two-hundred day moving average is $482.09. The firm has a market cap of $3.94 billion, a PE ratio of 21.58 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, topping analysts' consensus estimates of $5.81 by $0.61. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The business had revenue of $556.86 million for the quarter, compared to analyst estimates of $524.97 million. Equities analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Susan L. Blount sold 2,500 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the sale, the director directly owned 3,126 shares in the company, valued at $1,623,331.80. This trade represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Paul Bigbee sold 300 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $530.45, for a total transaction of $159,135.00. Following the sale, the chief accounting officer owned 774 shares in the company, valued at approximately $410,568.30. The trade was a 27.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock worth $2,820,884 over the last ninety days. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

CVCO has been the topic of a number of recent research reports. Wedbush reaffirmed a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Cavco Industries in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Cavco Industries has an average rating of "Moderate Buy" and an average target price 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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