Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by XTX Topco Ltd

Key Points

• XTX Topco Ltd reduced its holdings in Cavco Industries, selling 1,071 shares and decreasing its position by 55.3% to 866 shares, valued at $450,000.
• Several institutional investors, including Premier Fund Managers and Picton Mahoney Asset Management, have made significant changes to their positions in Cavco Industries, with 95.56% of the company's stock now owned by these entities.
• Cavco Industries reported strong quarterly earnings of $6.42 per share, surpassing estimates and indicating a positive trend as analysts predict 21.93 earnings per share for the current fiscal year.

XTX Topco Ltd cut its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 55.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 866 shares of the construction company's stock after selling 1,071 shares during the quarter. XTX Topco Ltd's holdings in Cavco Industries were worth $450,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVCO. LPL Financial LLC grew its holdings in shares of Cavco Industries by 174.5% during the fourth quarter. LPL Financial LLC now owns 2,114 shares of the construction company's stock worth $943,000 after buying an additional 1,344 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cavco Industries by 21.5% during the fourth quarter. JPMorgan Chase & Co. now owns 43,590 shares of the construction company's stock worth $19,451,000 after buying an additional 7,703 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Cavco Industries by 8.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 763 shares of the construction company's stock worth $340,000 after acquiring an additional 60 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Cavco Industries by 19.5% in the fourth quarter. Franklin Resources Inc. now owns 11,394 shares of the construction company's stock worth $5,084,000 after acquiring an additional 1,856 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock worth $101,324,000 after acquiring an additional 2,640 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wedbush reissued a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a research report on Monday, August 4th.

Cavco Industries Stock Up 2.9%

Shares of CVCO traded up $12.92 during mid-day trading on Tuesday, hitting $463.32. The company had a trading volume of 22,949 shares, compared to its average volume of 101,532. The business's 50-day simple moving average is $428.40 and its 200-day simple moving average is $477.28. Cavco Industries, Inc. has a 1-year low of $365.23 and a 1-year high of $549.99. The stock has a market cap of $3.67 billion, a PE ratio of 20.06 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.61. The firm had revenue of $556.86 million for the quarter, compared to analysts' expectations of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. On average, sell-side 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.