Principal Financial Group Inc. Boosts Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Principal Financial Group Inc. boosted its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,761 shares of the construction company's stock after acquiring an additional 638 shares during the period. Principal Financial Group Inc. owned about 0.53% of Cavco Industries worth $22,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd purchased a new stake in shares of Cavco Industries in the fourth quarter valued at about $67,000. DAVENPORT & Co LLC purchased a new stake in shares of Cavco Industries in the first quarter valued at about $208,000. GAMMA Investing LLC raised its holdings in shares of Cavco Industries by 38.7% in the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock valued at $229,000 after buying an additional 123 shares during the last quarter. ClearAlpha Technologies LP purchased a new stake in shares of Cavco Industries in the fourth quarter valued at about $204,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Cavco Industries in the fourth quarter valued at about $215,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVCO has been the subject of a number of research reports. Wedbush reaffirmed a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a report on Tuesday, May 27th. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Cavco Industries Stock Up 0.3%

NASDAQ CVCO traded up $1.38 during trading hours on Friday, hitting $449.84. 128,913 shares of the stock were exchanged, compared to its average volume of 82,647. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 21.67 and a beta of 1.15. Cavco Industries, Inc. has a 12-month low of $351.28 and a 12-month high of $549.99. The stock has a 50-day moving average of $456.48 and a 200 day moving average of $480.80.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating the consensus estimate of $5.23 by $0.17. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. The business had revenue of $508.36 million for the quarter, compared to analyst estimates of $504.15 million. On average, equities research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

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.