Dimensional Fund Advisors LP Sells 61,045 Shares of Cavco Industries, Inc. $CVCO

Key Points

• Dimensional Fund Advisors LP reduced its stake in Cavco Industries by 17.5%, selling 61,045 shares during the first quarter, leaving it with approximately 286,947 shares valued at about $149 million.
• Cavco Industries reported an EPS of $6.42 for its latest quarter, exceeding analysts’ expectations by $0.61, with revenues also surpassing estimates at $556.86 million.
• Despite changes in institutional ownership, a consensus rating shows Cavco Industries as a "Moderate Buy", with one analyst rating it as a Buy and another maintaining a Hold rating.

Dimensional Fund Advisors LP trimmed its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 17.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,947 shares of the construction company's stock after selling 61,045 shares during the quarter. Dimensional Fund Advisors LP owned about 3.54% of Cavco Industries worth $149,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in Cavco Industries in the 1st quarter valued at $416,000. Sei Investments Co. grew its holdings in Cavco Industries by 16.9% during the 1st quarter. Sei Investments Co. now owns 8,547 shares of the construction company's stock worth $4,441,000 after acquiring an additional 1,236 shares during the last quarter. Boston Partners grew its holdings in Cavco Industries by 2.2% during the 1st quarter. Boston Partners now owns 3,691 shares of the construction company's stock worth $1,918,000 after acquiring an additional 78 shares during the last quarter. Informed Momentum Co LLC acquired a new position in Cavco Industries during the 1st quarter valued at about $4,480,000. Finally, HighTower Advisors LLC lifted its position in Cavco Industries by 2.6% during the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company's stock valued at $816,000 after purchasing an additional 40 shares during the period. Institutional investors own 95.56% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CVCO. 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. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $522.50.

Cavco Industries Stock Up 0.2%

Shares of CVCO traded up $1.13 during midday trading on Tuesday, reaching $520.62. 231,449 shares of the stock were exchanged, compared to its average volume of 131,141. Cavco Industries, Inc. has a twelve month low of $390.46 and a twelve month high of $549.99. The company has a market cap of $4.12 billion, a P/E ratio of 22.57 and a beta of 1.15. The stock's 50 day simple moving average is $444.98 and its 200 day simple moving average is $476.78.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, beating analysts' consensus estimates of $5.81 by $0.61. The business had revenue of $556.86 million during the quarter, compared to the consensus estimate of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. As a group, analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of Cavco Industries stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $519.30, for a total value of $1,298,250.00. Following the transaction, the director owned 3,126 shares in the company, valued at $1,623,331.80. The trade was a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Paul Bigbee sold 300 shares of Cavco Industries stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $522.68, for a total value of $156,804.00. Following the completion of the transaction, the chief accounting officer owned 1,074 shares in the company, valued at approximately $561,358.32. This represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,300 shares of company stock valued at $2,661,749 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.