Vanguard Group Inc. Increases Stock Position in 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. boosted 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 period. Vanguard Group Inc. owned about 9.56% of Cavco Industries worth $402,631,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its position in Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after purchasing an additional 48 shares during the period. DAVENPORT & Co LLC acquired a new stake in Cavco Industries in the first quarter valued at about $208,000. GAMMA Investing LLC lifted its position in 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 purchasing an additional 123 shares during the period. ClearAlpha Technologies LP acquired a new stake in Cavco Industries in the fourth quarter valued at about $204,000. Finally, SkyOak Wealth LLC acquired a new stake in shares of Cavco Industries during the 1st quarter valued at approximately $246,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Analyst Ratings Changes

CVCO has been the subject of a number of research reports. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wedbush reiterated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cavco Industries currently has an average rating of "Moderate Buy" and an average price target of $522.50.

Cavco Industries Stock Down 0.9%

Shares of CVCO traded down $4.16 during mid-day trading on Wednesday, reaching $485.11. 254,325 shares of the company's stock were exchanged, compared to its average volume of 105,626. The company has a 50-day simple moving average of $436.44 and a two-hundred day simple moving average of $477.55. Cavco Industries, Inc. has a 52-week low of $388.68 and a 52-week high of $549.99. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 21.03 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, topping analysts' consensus estimates of $5.81 by $0.61. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The business had revenue of $556.86 million during the quarter, compared to analysts' expectations of $524.97 million. As a group, equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $483.21, for a total value of $966,420.00. Following the completion of the sale, the director directly owned 3,126 shares of the company's stock, valued at approximately $1,510,514.46. The trade was a 39.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

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.