Intech Investment Management LLC Boosts Stake in Cavco Industries, Inc. $CVCO

Key Points

• Intech Investment Management increased its Cavco Industries stake by 58% in the fourth quarter, buying 2,116 additional shares and lifting its position to 5,766 shares worth about $3.4 million.
• Cavco reported better-than-expected quarterly earnings of $5.42 per share, though revenue of $550.13 million came in below analyst estimates. Analysts currently rate the stock a Moderate Buy with a $550 price target.
• Shares of CVCO were down slightly in Tuesday trading, while insider selling included transactions by EVP Allison Aden and CAO Paul Bigbee; meanwhile, institutional investors still own 95.56% of the company.

Intech Investment Management LLC grew its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 58.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,766 shares of the construction company's stock after acquiring an additional 2,116 shares during the period. Intech Investment Management LLC owned about 0.07% of Cavco Industries worth $3,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVCO. Royal Bank of Canada grew its holdings in shares of Cavco Industries by 5.2% during the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company's stock worth $9,849,000 after acquiring an additional 934 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cavco Industries by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company's stock worth $2,494,000 after purchasing an additional 90 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Cavco Industries in the 1st quarter worth approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cavco Industries by 15.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company's stock worth $9,289,000 after purchasing an additional 2,384 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company's stock worth $86,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cavco Industries Trading Down 0.3%

Shares of CVCO opened at $534.89 on Tuesday. The firm has a market cap of $4.11 billion, a PE ratio of 22.31 and a beta of 1.31. The firm has a fifty day simple moving average of $499.76 and a two-hundred day simple moving average of $554.67. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results 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 analyst estimates of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. As a group, research analysts forecast that Cavco Industries, Inc. will post 25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVCO has been the topic of a number of analyst reports. Zelman & Associates raised Cavco Industries to an "outperform" rating in a research report on Thursday, February 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, Zacks Research raised Cavco Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $550.00.

Insiders Place Their Bets

In other Cavco Industries news, EVP Allison Aden sold 129 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $455.76, for a total transaction of $58,793.04. Following the completion of the sale, the executive vice president directly owned 8,806 shares in the company, valued at approximately $4,013,422.56. The trade was a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Paul Bigbee sold 200 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $537.75, for a total transaction of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares of the company's stock, valued at approximately $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 360 shares of company stock valued at $182,127. Company insiders own 1.60% of the company's stock.

Cavco Industries Profile

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.