Handelsbanken Fonder AB Increases Stock Holdings in Cavco Industries, Inc. $CVCO

by · The Markets Daily

Handelsbanken Fonder AB boosted its stake in Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 6.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,786 shares of the construction company’s stock after buying an additional 5,200 shares during the quarter. Handelsbanken Fonder AB owned approximately 1.05% of Cavco Industries worth $47,496,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Salomon & Ludwin LLC bought a new stake in shares of Cavco Industries in the 3rd quarter worth $31,000. Mather Group LLC. bought a new position in shares of Cavco Industries during the third quarter valued at about $63,000. Osaic Holdings Inc. boosted its holdings in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Cavco Industries by 1,814.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after purchasing an additional 127 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Cavco Industries in the 3rd quarter valued at about $86,000. 95.56% of the stock is currently owned by institutional investors.

Insider Activity

In other Cavco Industries news, Director Steven W. Moster purchased 300 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average cost of $456.23 per share, for a total transaction of $136,869.00. Following the purchase, the director owned 2,976 shares of the company’s stock, valued at $1,357,740.48. This represents a 11.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William C. Boor acquired 1,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average price of $495.00 per share, with a total value of $495,000.00. Following the completion of the purchase, the chief executive officer directly owned 48,022 shares in the company, valued at $23,770,890. This represents a 2.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 1,800 shares of company stock valued at $866,592 over the last quarter. Company insiders own 1.60% of the company’s stock.

Cavco Industries Price Performance

Shares of NASDAQ CVCO opened at $577.26 on Friday. The stock has a market capitalization of $4.48 billion, a PE ratio of 25.08 and a beta of 1.32. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The business’s fifty day moving average price is $603.99 and its 200-day moving average price is $570.02.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The firm had revenue of $580.99 million during the quarter, compared to the consensus estimate of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. As a group, equities analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVCO shares. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Zacks Research lowered Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Zelman & Associates raised Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $550.00.

Get Our Latest Stock Report on CVCO

Cavco Industries Company Profile

(Free Report)

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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