Intech Investment Management LLC Acquires New Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Intech Investment Management LLC bought a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 770 shares of the construction company’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Mather Group LLC. purchased a new position in Cavco Industries during the first quarter worth about $60,000. nVerses Capital LLC acquired a new stake in Cavco Industries in the 2nd quarter worth about $138,000. SG Americas Securities LLC purchased a new stake in Cavco Industries in the 1st quarter valued at about $197,000. Finally, TradeLink Capital LLC acquired a new position in shares of Cavco Industries during the 2nd quarter valued at about $202,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVCO has been the topic of several research analyst reports. Craig Hallum raised their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Cavco Industries in a research note on Friday, August 2nd.

Cavco Industries Price Performance

Cavco Industries stock opened at $431.82 on Friday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 23.53 and a beta of 1.24. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $444.90. The stock’s 50-day moving average is $402.76 and its 200-day moving average is $379.07.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The business had revenue of $477.60 million for the quarter, compared to analyst estimates of $487.80 million. During the same period last year, the firm earned $5.29 earnings per share. Research analysts anticipate that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Insider Activity at Cavco Industries

In related news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,663 shares of company stock worth $1,882,930. 1.60% of the stock is currently owned by corporate insiders.

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.