HighTower Advisors LLC bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,715 shares of the construction company’s stock, valued at approximately $202,000.
A number of other large investors have also recently made changes to their positions in the stock. Comerica Bank boosted its position in Cavco Industries by 5.7% in the fourth quarter. Comerica Bank now owns 9,068 shares of the construction company’s stock worth $887,000 after buying an additional 489 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Cavco Industries by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,560 shares of the construction company’s stock valued at $455,000 after buying an additional 250 shares during the period. Geneva Advisors LLC acquired a new position in shares of Cavco Industries during the first quarter valued at about $579,000. Russell Investments Group Ltd. acquired a new position in shares of Cavco Industries during the fourth quarter valued at about $335,000. Finally, Foundry Partners LLC boosted its position in shares of Cavco Industries by 5.9% in the first quarter. Foundry Partners LLC now owns 32,979 shares of the construction company’s stock valued at $3,839,000 after buying an additional 1,831 shares during the period. Institutional investors own 97.07% of the company’s stock.
Cavco Industries, Inc. (CVCO) traded down 2.21% during mid-day trading on Friday, reaching $123.70. 40,809 shares of the company traded hands. Cavco Industries, Inc. has a 52 week low of $88.65 and a 52 week high of $143.10. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.51 and a beta of 1.53. The stock’s 50 day moving average price is $130.90 and its 200 day moving average price is $120.40.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.20. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. The business had revenue of $206.80 million for the quarter, compared to analysts’ expectations of $200.70 million. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Equities analysts forecast that Cavco Industries, Inc. will post $4.80 EPS for the current year.
Separately, BidaskClub cut shares of Cavco Industries from a “hold” rating to a “sell” rating in a report on Monday, August 14th.
In related news, Director William C. Boor sold 3,000 shares of Cavco Industries stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total transaction of $391,770.00. Following the sale, the director now directly owns 6,397 shares in the company, valued at $835,384.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.44% of the stock is owned by insiders.
About Cavco Industries
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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