Pier Capital LLC Boosts Stake in Cavco Industries, Inc. $CVCO

Key Points

• Pier Capital LLC raised its stake in Cavco Industries (NASDAQ:CVCO) by 90.8% in Q4 to 12,103 shares—about 0.16% of the company—worth roughly $7.15 million.
• Several other institutions boosted positions (notably American Century +282%, Bessemer +22%, JPMorgan +74.6%), leaving institutional ownership at 95.56%.
• Cavco has a market cap of $3.74 billion, a P/E of 20.95 and a 52-week range of $393.53–$713.01, with analysts' consensus a "Moderate Buy" and an average target price of $550.

Pier Capital LLC raised its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 90.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,103 shares of the construction company's stock after acquiring an additional 5,761 shares during the period. Pier Capital LLC owned approximately 0.16% of Cavco Industries worth $7,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Cavco Industries in the third quarter worth about $819,000. Bessemer Group Inc. boosted its position in shares of Cavco Industries by 22.0% in the third quarter. Bessemer Group Inc. now owns 66,614 shares of the construction company's stock worth $38,684,000 after buying an additional 11,996 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cavco Industries by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company's stock worth $18,616,000 after buying an additional 13,694 shares during the period. Principal Financial Group Inc. boosted its position in shares of Cavco Industries by 13.1% in the third quarter. Principal Financial Group Inc. now owns 47,569 shares of the construction company's stock worth $27,625,000 after buying an additional 5,521 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Cavco Industries by 282.0% in the third quarter. American Century Companies Inc. now owns 30,062 shares of the construction company's stock worth $17,458,000 after buying an additional 22,193 shares during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $482.34 on Friday. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The business's 50-day simple moving average is $512.02 and its 200 day simple moving average is $562.19. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 20.95 and a beta of 1.31.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVCO. Zacks Research raised Cavco Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Zelman & Associates raised Cavco Industries to an "outperform" rating in a research report on Thursday, February 5th. Finally, Weiss Ratings downgraded Cavco Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, February 26th. One equities 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 company's stock. According to MarketBeat.com, Cavco Industries currently has an average rating of "Moderate Buy" and an average target price of $550.00.

About Cavco Industries

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.

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