Nuveen LLC Acquires Shares of 22,609 Cavco Industries, Inc. $CVCO

Key Points

• Nuveen LLC has established a new investment in Cavco Industries, acquiring 22,609 shares valued at approximately $11.75 million, representing 0.28% of the company.
• Recent insider trades include significant share sales by directors, with Richard A. Kerley selling 500 shares and Susan L. Blount selling 2,000 shares, indicating a decrease in their ownership positions.
• Cavco Industries reported better-than-expected earnings, with $6.42 EPS surpassing analysts’ consensus, and has a market cap of $4.11 billion.

Nuveen LLC bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,609 shares of the construction company's stock, valued at approximately $11,748,000. Nuveen LLC owned approximately 0.28% of Cavco Industries at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stephens Inc. AR increased its holdings in Cavco Industries by 3.8% during the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company's stock valued at $327,000 after purchasing an additional 23 shares in the last quarter. State of Wyoming boosted its position in shares of Cavco Industries by 0.8% in the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company's stock worth $1,368,000 after purchasing an additional 24 shares during the last quarter. Ancora Advisors LLC boosted its position in shares of Cavco Industries by 0.4% in the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company's stock worth $4,494,000 after purchasing an additional 40 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Cavco Industries by 1.9% in the 1st quarter. Arizona State Retirement System now owns 2,197 shares of the construction company's stock worth $1,142,000 after purchasing an additional 41 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Cavco Industries by 3.6% during the fourth quarter. Captrust Financial Advisors now owns 1,329 shares of the construction company's stock worth $593,000 after acquiring an additional 46 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Trading Down 1.0%

Shares of NASDAQ:CVCO traded down $5.34 during trading on Thursday, reaching $524.45. 48,635 shares of the stock were exchanged, compared to its average volume of 106,260. The firm has a market cap of $4.15 billion, a PE ratio of 22.72 and a beta of 1.15. The stock has a 50-day moving average price of $447.57 and a 200-day moving average price of $477.15. Cavco Industries, Inc. has a 12 month low of $390.46 and a 12 month high of $549.99.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen lowered 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. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $522.50.

Insider Activity at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total value of $240,275.00. Following the completion of the sale, the director directly owned 7,169 shares in the company, valued at approximately $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan L. Blount sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total value of $1,298,250.00. Following the completion of the sale, the director owned 3,126 shares of the company's stock, valued at approximately $1,623,331.80. This trade represents a 44.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,300 shares of company stock worth $2,661,749. Company insiders own 1.60% of the company's stock.

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.