Vanguard Group Inc. Acquires 37,249 Shares of Cavco Industries, Inc. $CVCO

Key Points

• Vanguard Group Inc. increased its holdings in Cavco Industries by 5.1%, owning approximately 9.56% of the company after purchasing an additional 37,249 shares in the first quarter.
• Cavco Industries reported earnings of $6.42 per share for the last quarter, surpassing analysts' expectations of $5.81 and posting revenue of $556.86 million.
• The stock opened at $480.22 with a market cap of $3.80 billion, while 95.56% of its shares are held by institutional investors.

Vanguard Group Inc. increased its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 774,842 shares of the construction company's stock after purchasing an additional 37,249 shares during the quarter. Vanguard Group Inc. owned approximately 9.56% of Cavco Industries worth $402,631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVCO. CWM LLC grew its position in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company's stock worth $82,000 after buying an additional 48 shares during the period. ClearAlpha Technologies LP acquired a new position in Cavco Industries during the 4th quarter worth approximately $204,000. DAVENPORT & Co LLC acquired a new position in Cavco Industries during the 1st quarter worth approximately $208,000. Tower Research Capital LLC TRC boosted its position 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 worth $219,000 after acquiring an additional 181 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position 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 during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CVCO. Wedbush reissued a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Cavco Industries has an average rating of "Moderate Buy" and a consensus target price of $522.50.

Cavco Industries Stock Up 1.2%

Shares of CVCO stock traded up $5.72 during mid-day trading on Tuesday, reaching $489.75. 115,979 shares of the stock traded hands, compared to its average volume of 103,317. The stock's fifty day simple moving average is $434.07 and its two-hundred day simple moving average is $477.41. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 21.23 and a beta of 1.15. Cavco Industries, Inc. has a 1-year low of $384.46 and a 1-year high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $556.86 million for the quarter, compared to analyst estimates of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Transactions at Cavco Industries

In related news, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $483.21, for a total transaction of $966,420.00. Following the completion of the sale, the director owned 3,126 shares in the company, valued at approximately $1,510,514.46. This represents a 39.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.