Cavco Industries, Inc. (NASDAQ:CVCO) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Cavco Industries by 103.3%, owning 14,953 shares valued at approximately $7.77 million as of the latest SEC filing.
• Cavco Industries reported quarterly earnings of $5.40 per share, surpassing analysts' expectations, with a total revenue of $508.36 million.
• Institutional investors currently control 95.56% of Cavco Industries' stock, indicating strong institutional interest in the company.

Victory Capital Management Inc. lifted its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 103.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,953 shares of the construction company's stock after purchasing an additional 7,598 shares during the quarter. Victory Capital Management Inc. owned about 0.18% of Cavco Industries worth $7,770,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. CWM LLC increased its position in shares of Cavco Industries by 44.0% during the first quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after acquiring an additional 48 shares during the last quarter. ClearAlpha Technologies LP acquired a new stake in shares of Cavco Industries during the fourth quarter valued at about $204,000. DAVENPORT & Co LLC acquired a new stake in shares of Cavco Industries during the first quarter valued at about $208,000. New Age Alpha Advisors LLC acquired a new stake in shares of Cavco Industries during the fourth quarter valued at about $215,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Cavco Industries by 58.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock valued at $219,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cavco Industries Stock Up 1.3%

Cavco Industries stock traded up $5.44 during trading on Friday, reaching $417.47. The stock had a trading volume of 65,660 shares, compared to its average volume of 156,992. Cavco Industries, Inc. has a 52-week low of $351.28 and a 52-week high of $549.99. The business has a 50 day moving average price of $437.04 and a 200 day moving average price of $479.39. The stock has a market cap of $3.38 billion, a PE ratio of 19.25 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.23 by $0.17. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. The company had revenue of $508.36 million during the quarter, compared to the consensus estimate of $504.15 million. On average, equities analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wedbush reissued a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a research note on Tuesday, May 27th.

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.