Punch & Associates Investment Management Inc. Has $22.10 Million Stock Holdings in Cavco Industries, Inc. $CVCO

Key Points

• Punch & Associates Investment Management Inc. increased its stake in Cavco Industries by 1.5%, owning 42,522 shares, which represents about 1.4% of its total holdings.
• Cavco Industries reported a quarterly earnings per share of $6.42, exceeding analysts' expectations of $5.81, alongside a revenue of $556.86 million.
• Insiders sold a total of 5,600 shares of Cavco Industries stock valued at approximately $2.82 million over the last quarter, indicating significant insider trading activity.

Punch & Associates Investment Management Inc. raised its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,522 shares of the construction company's stock after acquiring an additional 633 shares during the quarter. Cavco Industries comprises 1.4% of Punch & Associates Investment Management Inc.'s holdings, making the stock its 15th largest position. Punch & Associates Investment Management Inc. owned 0.52% of Cavco Industries worth $22,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVCO. Vanguard Group Inc. grew its holdings in Cavco Industries by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock valued at $402,631,000 after buying an additional 37,249 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 71,961.9% during the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock worth $119,077,000 after buying an additional 228,839 shares in the last quarter. Invesco Ltd. boosted its position in shares of 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 period. GW&K Investment Management LLC grew its stake in shares of 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 in the last quarter. Finally, Broad Bay Capital Management LP grew its stake in shares of 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 in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVCO. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Wedbush restated a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a research report on Monday, August 4th. One investment 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $522.50.

Cavco Industries Stock Down 0.8%

Shares of NASDAQ:CVCO traded down $4.45 during midday trading on Tuesday, hitting $541.74. The stock had a trading volume of 141,293 shares, compared to its average volume of 155,702. The company's 50-day moving average price is $468.47 and its 200-day moving average price is $477.12. The company has a market capitalization of $4.29 billion, a P/E ratio of 23.48 and a beta of 1.23. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $568.97.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In related news, CAO Paul Bigbee sold 300 shares of the company'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 completion of the sale, the chief accounting officer directly owned 774 shares in the company, valued at $410,568.30. This represents a 27.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the completion of the transaction, the director owned 7,169 shares in the company, valued at approximately $3,445,062.95. This represents a 6.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,600 shares of company stock valued at $2,820,884. 1.60% of the stock is currently owned by corporate insiders.

About Cavco Industries

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.