Gamco Investors INC. ET AL Has $40.23 Million Stock Holdings in Cavco Industries, Inc. $CVCO

Key Points

• Gamco Investors cut its Cavco Industries stake by 9.6% in the first quarter, but still held 83,074 shares worth about $40.23 million at quarter-end.
• Cavco reported better-than-expected earnings for its latest quarter, posting $5.42 per share versus $5.30 expected, though revenue came in below estimates at $550.13 million.
• Analysts remain moderately bullish on the stock, with an average price target of $625 and UBS recently initiating coverage with a Buy rating and a $700 target.

Gamco Investors INC. ET AL decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,074 shares of the construction company's stock after selling 8,802 shares during the period. Gamco Investors INC. ET AL owned about 1.07% of Cavco Industries worth $40,232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVCO. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cavco Industries by 852,093.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company's stock worth $1,062,226,000 after buying an additional 1,797,917 shares during the last quarter. State Street Corp lifted its stake in shares of Cavco Industries by 6.1% in the 2nd quarter. State Street Corp now owns 380,682 shares of the construction company's stock valued at $165,380,000 after acquiring an additional 21,837 shares during the last quarter. Boston Partners lifted its stake in shares of Cavco Industries by 82.8% in the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company's stock valued at $213,866,000 after acquiring an additional 167,230 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cavco Industries by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company's stock valued at $137,569,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Cavco Industries by 53.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company's stock valued at $126,166,000 after acquiring an additional 74,542 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $569.77 on Friday. The firm has a market cap of $4.39 billion, a PE ratio of 23.77 and a beta of 1.28. The firm's fifty day moving average is $565.24 and its 200-day moving average is $553.70. Cavco Industries, Inc. has a 52 week low of $397.38 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, beating analysts' consensus estimates of $5.30 by $0.12. The business had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Sell-side analysts forecast that Cavco Industries, Inc. will post 24.5 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. The trade was a 15.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Allison Aden sold 1,473 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the sale, the executive vice president directly owned 9,147 shares of the company's stock, valued at approximately $5,716,875. The trade was a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,541 shares of company stock worth $2,121,932. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVCO shares. UBS Group initiated coverage on Cavco Industries in a report on Friday, June 5th. They issued a "buy" rating and a $700.00 target price for the company. Zacks Research upgraded Cavco Industries from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cavco Industries in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $625.00.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.

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