Mitsubishi UFJ Asset Management UK Ltd. Sells 2,000 Shares of Cavco Industries, Inc. $CVCO

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. reduced its holdings in Cavco Industries by 80%, selling 2,000 shares, leaving it with only 500 shares valued at $260,000.
• Several institutional investors have increased their stakes in Cavco Industries, with Victory Capital Management raising its holdings by 103.3% in the first quarter.
• Cavco's stock is currently trading at $495.53, having recently reported $6.42 earnings per share, exceeding analysts' expectations.

Mitsubishi UFJ Asset Management UK Ltd. reduced its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 80.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500 shares of the construction company's stock after selling 2,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Cavco Industries were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVCO. GAMMA Investing LLC increased its holdings in Cavco Industries by 71,961.9% in the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after buying an additional 228,839 shares during the last quarter. Janus Henderson Group PLC lifted its position in Cavco Industries by 1,030.9% in the fourth quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock worth $32,371,000 after purchasing an additional 66,120 shares during the period. Vanguard Group Inc. lifted 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 period. Nuveen LLC acquired a new stake in Cavco Industries in the first quarter worth approximately $11,748,000. Finally, Capital Research Global Investors acquired a new stake in Cavco Industries in the fourth quarter worth approximately $9,863,000. 95.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wedbush reiterated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Insider Buying and Selling

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the stock in a transaction on Thursday, August 14th. The shares were 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 $1,510,514.46. This represents a 39.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO traded up $3.81 during mid-day trading on Monday, reaching $484.03. The company had a trading volume of 154,196 shares, compared to its average volume of 103,247. Cavco Industries, Inc. has a twelve month low of $384.46 and a twelve month high of $549.99. The stock has a market capitalization of $3.83 billion, a PE ratio of 20.98 and a beta of 1.15. The stock's 50 day moving average is $432.90 and its 200-day moving average is $477.59.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, topping the consensus estimate of $5.81 by $0.61. The firm had revenue of $556.86 million for the quarter, compared to the consensus estimate of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Cavco Industries Company 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.