Charles Schwab Investment Management Inc. Has $56.83 Million Holdings in Cavco Industries, Inc. $CVCO

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Cavco Industries by 1.5%, now owning approximately 109,367 shares valued at about $56.83 million.
• Other firms like Victory Capital Management and Allspring Global Investments significantly increased their holdings in Cavco, indicating ongoing interest from institutional investors.
• Analysts have recently downgraded Cavco Industries' rating from "buy" to "hold" and set a price target of $550.00, reflecting a cautious outlook on the stock.

Charles Schwab Investment Management Inc. lessened its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,367 shares of the construction company's stock after selling 1,610 shares during the period. Charles Schwab Investment Management Inc. owned about 1.35% of Cavco Industries worth $56,830,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CVCO. GAMMA Investing LLC boosted its stake in shares of Cavco Industries by 71,961.9% in the 1st quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after purchasing an additional 228,839 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Cavco Industries by 1,030.9% in the 4th quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock valued at $32,371,000 after purchasing an additional 66,120 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 37,249 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of Cavco Industries in the 4th quarter valued at $9,863,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Cavco Industries during the 1st quarter worth about $8,556,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Trading Down 0.9%

NASDAQ CVCO traded down $4.16 on Wednesday, hitting $485.11. 254,325 shares of the company were exchanged, compared to its average volume of 105,626. The firm has a 50 day moving average of $436.44 and a two-hundred day moving average of $477.55. The company has a market cap of $3.84 billion, a P/E ratio of 21.03 and a beta of 1.15. Cavco Industries, Inc. has a 1-year low of $388.68 and a 1-year high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued 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 the consensus estimate of $524.97 million. Research analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Transactions at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $483.21, for a total transaction of $966,420.00. Following the transaction, the director directly owned 3,126 shares in the company, valued at approximately $1,510,514.46. This represents a 39.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

CVCO has been the topic of several research reports. Wedbush reiterated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cavco Industries presently has a consensus rating of "Moderate Buy" and an average target price 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.