UBS Group AG Has $23.64 Million Stock Position in Cavco Industries, Inc. $CVCO

Key Points

• UBS Group AG increased its stake in Cavco Industries by 31.5% in the fourth quarter, bringing its holdings to 40,017 shares valued at about $23.64 million.
• Several other institutional investors also boosted or initiated positions in the company, and hedge funds/institutions now own 95.56% of Cavco’s stock.
• Analysts remain mixed on CVCO, with an average rating of “Moderate Buy” and a consensus price target of $550, while the stock recently traded at $484.54.

UBS Group AG lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 31.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,017 shares of the construction company's stock after buying an additional 9,589 shares during the period. UBS Group AG owned about 0.51% of Cavco Industries worth $23,640,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new position in shares of Cavco Industries during the 3rd quarter worth $819,000. Bessemer Group Inc. raised its holdings in shares of Cavco Industries by 22.0% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Cavco Industries by 74.6% during the 3rd 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 in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cavco Industries by 13.1% during the 3rd 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 in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Cavco Industries by 282.0% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVCO. Weiss Ratings cut Cavco Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, February 26th. Zelman & Associates raised Cavco Industries to an "outperform" rating in a report on Thursday, February 5th. Finally, Zacks Research raised Cavco Industries from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $550.00.

Cavco Industries Price Performance

Shares of CVCO opened at $484.54 on Monday. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The business has a 50-day simple moving average of $512.02 and a two-hundred day simple moving average of $562.19. The stock has a market cap of $3.76 billion, a PE ratio of 21.05 and a beta of 1.31.

Cavco Industries Profile

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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