Intech Investment Management LLC Buys 791 Shares of Cavco Industries, Inc. $CVCO

Key Points

• Intech Investment Management LLC increased its shares in Cavco Industries by 19.0% in the first quarter, owning approximately $2.57 million worth of stock.
• Insider sales included Director Susan L. Blount who sold 2,500 shares for over $1.29 million, representing a 44.44% decrease in their position.
• Cavco Industries reported $6.42 EPS for the last quarter, beating analysts' expectations of $5.81, and has an average target price from analysts of $522.50.

Intech Investment Management LLC lifted its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,951 shares of the construction company's stock after purchasing an additional 791 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Cavco Industries worth $2,573,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cavco Industries by 3.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,709 shares of the construction company's stock valued at $2,101,000 after buying an additional 137 shares during the period. ProShare Advisors LLC lifted its holdings in Cavco Industries by 42.8% in the fourth quarter. ProShare Advisors LLC now owns 2,492 shares of the construction company's stock worth $1,112,000 after buying an additional 747 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Cavco Industries by 49.0% during the fourth quarter. Rafferty Asset Management LLC now owns 5,483 shares of the construction company's stock valued at $2,447,000 after purchasing an additional 1,802 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Cavco Industries during the fourth quarter valued at approximately $267,000. Finally, Vident Advisory LLC increased its stake in shares of Cavco Industries by 574.2% during the fourth quarter. Vident Advisory LLC now owns 3,553 shares of the construction company's stock valued at $1,585,000 after purchasing an additional 3,026 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Cavco Industries Stock Down 1.3%

CVCO traded down $7.09 during trading on Friday, reaching $556.53. 289,119 shares of the company's stock were exchanged, compared to its average volume of 177,055. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $574.20. The business has a 50 day moving average price of $484.52 and a 200 day moving average price of $478.99. The company has a market capitalization of $4.41 billion, a P/E ratio of 24.12 and a beta of 1.23.

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

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard A. Kerley sold 500 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total value of $240,275.00. Following the sale, the director directly owned 7,169 shares in the company, valued at $3,445,062.95. This trade represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock valued at $2,820,884 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVCO has been the topic of a number of recent research reports. Wedbush reaffirmed a "neutral" rating and issued a $550.00 target price 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 note on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $522.50.

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.