Cavco Industries, Inc. $CVCO Shares Sold by GW&K Investment Management LLC

Key Points

• GW&K Investment Management trimmed its Cavco Industries stake by 4.7% in the fourth quarter, selling 7,511 shares and ending with 151,149 shares worth about $89.3 million.
• Cavco reported better-than-expected quarterly EPS of $5.42, though revenue of $550.1 million came in below analyst estimates. Analysts currently have a Moderate Buy consensus with an average price target of $625.
• Recent insider activity has included sales by EVP Allison Aden and CAO Paul Bigbee, while UBS initiated coverage with a buy rating and a $700 price target, signaling continued analyst optimism.

GW&K Investment Management LLC cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 151,149 shares of the construction company's stock after selling 7,511 shares during the period. Cavco Industries accounts for about 0.8% of GW&K Investment Management LLC's holdings, making the stock its 19th biggest position. GW&K Investment Management LLC owned 1.95% of Cavco Industries worth $89,292,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in Cavco Industries in the 4th quarter valued at $54,000. Osaic Holdings Inc. raised its holdings in Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company's stock valued at $57,000 after acquiring an additional 65 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Cavco Industries during the 3rd quarter valued at $58,000. CIBC Private Wealth Group LLC grew its stake in shares of Cavco Industries by 72.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company's stock valued at $69,000 after buying an additional 50 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in shares of Cavco Industries by 186.0% during the 4th quarter. Clearstead Advisors LLC now owns 123 shares of the construction company's stock worth $73,000 after buying an additional 80 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Price Performance

Shares of NASDAQ CVCO opened at $578.31 on Wednesday. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $713.01. The business has a 50-day moving average of $509.72 and a 200-day moving average of $554.91. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 24.13 and a beta of 1.30.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The company had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Research analysts expect that Cavco Industries, Inc. will post 25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CVCO shares. Weiss Ratings restated a "hold (c+)" rating on shares of Cavco Industries in a report on Tuesday, May 26th. Zacks Research upgraded Cavco Industries from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Finally, UBS Group started coverage on Cavco Industries in a report on Friday, June 5th. They set a "buy" rating and a $700.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cavco Industries currently has an average rating of "Moderate Buy" and an average price target of $625.00.

Insider Activity

In other Cavco Industries news, EVP Allison Aden sold 129 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the completion of the transaction, the executive vice president directly owned 8,806 shares of the company's stock, valued at $4,013,422.56. This represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Paul Bigbee sold 200 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the transaction, the chief accounting officer directly owned 1,105 shares of the company's stock, valued at approximately $594,213.75. The trade was a 15.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 360 shares of company stock valued at $182,127 in the last ninety days. Company insiders own 1.60% of the company's stock.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.

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