Cavco Industries, Inc. $CVCO Stock Holdings Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Cavco Industries, Inc. by 20.6%, selling 27,340 shares, leaving them with 105,091 shares valued at approximately $54.6 million.
• Multiple investors have adjusted their positions in Cavco, with institutional investors currently owning 95.56% of the company's stock.
• An earnings report revealed Cavco's earnings per share of $6.42 for the quarter, exceeding analysts' expectations and indicating strong financial performance.

Wellington Management Group LLP trimmed its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 20.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,091 shares of the construction company's stock after selling 27,340 shares during the quarter. Wellington Management Group LLP owned 1.30% of Cavco Industries worth $54,608,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVCO. Stephens Inc. AR raised its holdings in shares of Cavco Industries by 3.8% during the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company's stock valued at $327,000 after buying an additional 23 shares during the period. State of Wyoming raised its holdings in shares of Cavco Industries by 0.8% during the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company's stock valued at $1,368,000 after buying an additional 24 shares during the period. Ancora Advisors LLC raised its holdings in shares of Cavco Industries by 0.4% during the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company's stock valued at $4,494,000 after buying an additional 40 shares during the period. HighTower Advisors LLC raised its holdings in shares of Cavco Industries by 2.6% during the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company's stock valued at $816,000 after buying an additional 40 shares during the period. Finally, Arizona State Retirement System grew its stake in Cavco Industries by 1.9% during the 1st quarter. Arizona State Retirement System now owns 2,197 shares of the construction company's stock valued at $1,142,000 after purchasing an additional 41 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

Shares of Cavco Industries stock traded down $2.87 during trading hours on Thursday, reaching $526.91. The company's stock had a trading volume of 100,099 shares, compared to its average volume of 106,709. The company's 50 day simple moving average is $447.57 and its 200 day simple moving average is $477.15. Cavco Industries, Inc. has a one year low of $390.46 and a one year high of $549.99. The stock has a market cap of $4.17 billion, a P/E ratio of 22.84 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) 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 company had revenue of $556.86 million for the quarter, compared to the consensus estimate of $524.97 million. On average, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush restated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $522.50.

Insider Activity at Cavco Industries

In related news, Director Susan L. Blount sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the completion of the transaction, the director owned 3,126 shares in the company, valued at $1,623,331.80. The trade was a 44.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the transaction, the director owned 7,169 shares of the company's stock, valued at $3,445,062.95. This represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,300 shares of company stock worth $2,661,749 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

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.