Cavco Industries, Inc. (NASDAQ:CVCO) Position Boosted 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. increased its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 103.3% in the 1st quarter, according to its most recent disclosure 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 0.18% of Cavco Industries worth $7,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its stake in shares of Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after purchasing an additional 160,899 shares during the period. GAMMA Investing LLC raised its holdings in Cavco Industries by 71,961.9% in the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after acquiring an additional 228,839 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock valued at $101,324,000 after acquiring an additional 2,640 shares in the last quarter. Invesco Ltd. raised its holdings in Cavco Industries by 18.7% in the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock valued at $81,418,000 after acquiring an additional 28,730 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Cavco Industries by 9.5% in the fourth quarter. Northern Trust Corp now owns 91,732 shares of the construction company's stock valued at $40,934,000 after acquiring an additional 7,986 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Price Performance

Shares of CVCO stock traded down $0.80 during trading hours on Tuesday, reaching $413.72. The stock had a trading volume of 51,512 shares, compared to its average volume of 101,986. The firm has a 50-day simple moving average of $434.98 and a 200-day simple moving average of $479.76. The firm has a market capitalization of $3.35 billion, a PE ratio of 19.93 and a beta of 1.15. Cavco Industries, Inc. has a twelve month low of $351.28 and a twelve month high of $549.99.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVCO. Wedbush reissued a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a report on Tuesday, May 27th. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

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.