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 reduced its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 17.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 286,947 shares of the construction company's stock after selling 61,045 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.54% of Cavco Industries worth $149,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in Cavco Industries by 103.3% during the first quarter. Victory Capital Management Inc. now owns 14,953 shares of the construction company's stock worth $7,770,000 after purchasing an additional 7,598 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Cavco Industries by 62.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company's stock worth $6,402,000 after buying an additional 4,779 shares in the last quarter. GAMMA Investing LLC lifted its position in Cavco Industries by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock worth $229,000 after buying an additional 123 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Cavco Industries during the 1st quarter worth about $1,115,000. Finally, Informed Momentum Co LLC acquired a new position in shares of Cavco Industries during the 1st quarter worth about $4,480,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Stock Performance

Shares of CVCO stock opened at $485.11 on Thursday. Cavco Industries, Inc. has a 52-week low of $388.68 and a 52-week high of $549.99. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 21.03 and a beta of 1.15. The firm's 50-day moving average is $436.44 and its 200-day moving average is $477.55.

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, topping analysts' consensus estimates of $5.81 by $0.61. The business had revenue of $556.86 million during the quarter, compared to analysts' expectations of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. Sell-side analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In related news, Director Susan L. Blount sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was 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 of the company's stock, valued at approximately $1,510,514.46. The trade was a 39.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CVCO. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wedbush reaffirmed a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $522.50.

About Cavco Industries

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.

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