Swiss National Bank Sells 400 Shares of Cavco Industries, Inc. $CVCO

by · The Markets Daily

Swiss National Bank lessened its stake in Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,500 shares of the construction company’s stock after selling 400 shares during the period. Swiss National Bank owned 0.18% of Cavco Industries worth $6,299,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Boston Partners increased its holdings in shares of Cavco Industries by 5,371.3% in the 2nd quarter. Boston Partners now owns 201,947 shares of the construction company’s stock valued at $87,847,000 after acquiring an additional 198,256 shares during the period. Ameriprise Financial Inc. lifted its position in Cavco Industries by 64.0% during the 1st quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock worth $80,940,000 after acquiring an additional 60,779 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Cavco Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock worth $402,631,000 after purchasing an additional 37,249 shares during the period. Millennium Management LLC increased its stake in shares of Cavco Industries by 628.4% in the first quarter. Millennium Management LLC now owns 39,721 shares of the construction company’s stock worth $20,640,000 after acquiring an additional 34,268 shares during the period. Finally, Broad Bay Capital Management LP raised its stake in shares of Cavco Industries by 18.3% during the 1st quarter. Broad Bay Capital Management LP now owns 178,189 shares of the construction company’s stock valued at $92,592,000 after buying an additional 27,503 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the sale, the director owned 6,669 shares of the company’s stock, valued at $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

CVCO has been the topic of several recent analyst reports. Wedbush reissued a “neutral” rating and set a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th. Zacks Research upgraded shares of Cavco Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $550.00.

Read Our Latest Report on Cavco Industries

Cavco Industries Stock Down 2.1%

CVCO opened at $595.88 on Monday. The business has a 50 day moving average price of $556.23 and a two-hundred day moving average price of $497.77. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $613.77. The company has a market cap of $4.65 billion, a PE ratio of 25.83 and a beta of 1.21.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.30 by $0.25. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The firm had revenue of $556.53 million during the quarter, compared to analysts’ expectations of $542.92 million. As a group, sell-side analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Cavco Industries Profile

(Free Report)

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.

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