Sheets Smith Wealth Management decreased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 84.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 318 shares of the construction company’s stock after selling 1,710 shares during the quarter. Sheets Smith Wealth Management’s holdings in Cavco Industries were worth $644,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of Cavco Industries by 75.9% in the first quarter. JPMorgan Chase & Co. now owns 24,779 shares of the construction company’s stock valued at $5,968,000 after purchasing an additional 10,691 shares during the period. Raymond James & Associates increased its holdings in Cavco Industries by 5.8% in the 1st quarter. Raymond James & Associates now owns 14,161 shares of the construction company’s stock worth $3,411,000 after buying an additional 774 shares during the period. US Bancorp DE raised its position in Cavco Industries by 25.2% during the 1st quarter. US Bancorp DE now owns 388 shares of the construction company’s stock worth $94,000 after buying an additional 78 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Cavco Industries by 58.6% during the 1st quarter. MetLife Investment Management LLC now owns 4,906 shares of the construction company’s stock valued at $1,182,000 after acquiring an additional 1,813 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Cavco Industries by 2.2% in the 1st quarter. Rhumbline Advisers now owns 23,738 shares of the construction company’s stock valued at $5,717,000 after acquiring an additional 522 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on CVCO shares. Craig Hallum decreased their target price on shares of Cavco Industries from $357.00 to $338.00 in a research report on Monday, May 22nd. StockNews.com assumed coverage on Cavco Industries in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Wedbush lifted their price target on Cavco Industries from $410.00 to $425.00 in a research report on Monday, May 22nd.
Check Out Our Latest Analysis on CVCO
Cavco Industries Price Performance
CVCO opened at $272.45 on Monday. The stock has a market cap of $2.36 billion, a P/E ratio of 10.65 and a beta of 1.23. The firm has a fifty day moving average price of $284.11 and a 200 day moving average price of $286.76. Cavco Industries, Inc. has a 1 year low of $193.91 and a 1 year high of $318.00.
Cavco Industries (NASDAQ:CVCO – Get Free Report) last posted its earnings results on Thursday, August 3rd. The construction company reported $5.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.76 by ($1.47). Cavco Industries had a return on equity of 23.41% and a net margin of 11.20%. The firm had revenue of $475.88 million for the quarter, compared to analysts’ expectations of $552.90 million. Equities analysts expect that Cavco Industries, Inc. will post 20.05 EPS 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.
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