Mitsubishi UFJ Asset Management UK Ltd. Sells 2,000 Shares of Cavco Industries, Inc. (NASDAQ: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. lessened its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 80.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 500 shares of the construction company's stock after selling 2,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Cavco Industries were worth $260,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CVCO. Victory Capital Management Inc. raised its holdings in Cavco Industries by 103.3% during the 1st quarter. Victory Capital Management Inc. now owns 14,953 shares of the construction company's stock worth $7,770,000 after buying an additional 7,598 shares during the period. Allspring Global Investments Holdings LLC raised its holdings 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 during the period. GAMMA Investing LLC raised its holdings 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 during the period. Meeder Asset Management Inc. acquired a new stake in Cavco Industries during the 1st quarter worth approximately $1,115,000. Finally, Premier Fund Managers Ltd acquired a new stake in Cavco Industries during the 1st quarter worth approximately $688,000. Institutional investors own 95.56% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVCO shares. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wedbush reaffirmed a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a research report on Monday, August 4th.

Cavco Industries Trading Up 4.5%

Cavco Industries stock opened at $495.53 on Thursday. The company has a market cap of $3.92 billion, a P/E ratio of 21.48 and a beta of 1.15. Cavco Industries, Inc. has a 1-year low of $372.01 and a 1-year high of $549.99. The company has a fifty day simple moving average of $430.68 and a 200 day simple moving average of $477.38.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, topping analysts' consensus estimates of $5.81 by $0.61. The business 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, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.