Invesco Ltd. Increases Stock Holdings in Cavco Industries, Inc. $CVCO

Key Points

• Invesco Ltd. increased its holdings in Cavco Industries by 7.5%, owning approximately 2.42% of the company's stock valued at $101.96 million as of its latest SEC filing.
• Cavco Industries recently reported $6.42 EPS for the quarter, surpassing analyst estimates of $5.81 and achieving $556.86 million in revenue.
• Several institutional investors have adjusted their stakes in Cavco, with 95.56% of the stock now owned by institutional investors and hedge funds.

Invesco Ltd. lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,210 shares of the construction company's stock after buying an additional 13,753 shares during the period. Invesco Ltd. owned approximately 2.42% of Cavco Industries worth $101,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. boosted its position in Cavco Industries by 12.9% in the first quarter. Citigroup Inc. now owns 19,809 shares of the construction company's stock worth $10,293,000 after purchasing an additional 2,266 shares during the last quarter. Swiss National Bank boosted its position in Cavco Industries by 2.1% in the first quarter. Swiss National Bank now owns 14,900 shares of the construction company's stock worth $7,742,000 after purchasing an additional 300 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its position in Cavco Industries by 47.9% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 44,811 shares of the construction company's stock worth $23,285,000 after purchasing an additional 14,515 shares during the last quarter. Vanguard Group Inc. boosted its position in Cavco Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock worth $402,631,000 after purchasing an additional 37,249 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Cavco Industries in the first quarter worth about $981,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVCO. Wedbush reaffirmed a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen downgraded 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 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 $522.50.

Cavco Industries Stock Down 0.6%

NASDAQ CVCO traded down $3.01 during trading hours on Wednesday, reaching $486.26. The company's stock had a trading volume of 162,007 shares, compared to its average volume of 103,826. The firm's 50-day moving average price is $435.27 and its 200-day moving average price is $477.50. Cavco Industries, Inc. has a 1 year low of $388.68 and a 1 year high of $549.99. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 21.07 and a beta of 1.15.

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. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The company had revenue of $556.86 million for the quarter, compared to analysts' expectations of $524.97 million. Equities 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 Cavco Industries stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $483.21, for a total value of $966,420.00. Following the sale, the director owned 3,126 shares of the company's stock, valued at $1,510,514.46. The trade was a 39.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by 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.