Cavco Industries, Inc. $CVCO Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Cavco Industries by 1.3%, owning approximately 1.25% of the company's stock, valued at $52.46 million.
• Cavco Industries reported earnings per share of $6.42, surpassing estimates, alongside a revenue of $556.86 million for the quarter.
• Wall Street analysts have mixed ratings on Cavco Industries, with one firm downgrading it to a "hold" and a consensus target price of $522.50.

Price T Rowe Associates Inc. MD boosted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,949 shares of the construction company's stock after purchasing an additional 1,298 shares during the period. Price T Rowe Associates Inc. MD owned about 1.25% of Cavco Industries worth $52,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVCO. CWM LLC lifted its holdings in Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after buying an additional 48 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cavco Industries during the 1st quarter valued at about $112,000. DAVENPORT & Co LLC bought a new stake in Cavco Industries during the 1st quarter valued at about $208,000. Tower Research Capital LLC TRC lifted its holdings in Cavco Industries by 58.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock valued at $219,000 after buying an additional 181 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 acquiring an additional 123 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Insider Activity

In other news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total transaction of $240,275.00. Following the completion of the transaction, the director directly owned 7,169 shares of the company's stock, valued at $3,445,062.95. The trade was a 6.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Paul Bigbee sold 300 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $522.68, for a total value of $156,804.00. Following the sale, the chief accounting officer owned 1,074 shares in the company, valued at $561,358.32. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,300 shares of company stock valued at $2,661,749 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Trading Up 0.0%

Shares of CVCO stock traded up $0.11 during mid-day trading on Monday, reaching $530.49. The stock had a trading volume of 99,871 shares, compared to its average volume of 134,768. The business's fifty day moving average is $455.24 and its 200-day moving average is $476.37. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 22.99 and a beta of 1.23. Cavco Industries, Inc. has a 1-year low of $390.46 and a 1-year high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its 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. The firm had revenue of $556.86 million for the quarter, compared to the consensus estimate of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. On average, analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on CVCO shares. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wedbush reiterated a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $522.50.

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.