Bessemer Group Inc. Boosts Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Bessemer Group Inc. boosted its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 4.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,193 shares of the construction company’s stock after purchasing an additional 2,176 shares during the quarter. Bessemer Group Inc. owned approximately 0.64% of Cavco Industries worth $27,121,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Cavco Industries during the 4th quarter worth approximately $67,000. Smartleaf Asset Management LLC grew its holdings in Cavco Industries by 387.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after purchasing an additional 128 shares during the last quarter. ClearAlpha Technologies LP acquired a new position in shares of Cavco Industries during the fourth quarter worth $204,000. New Age Alpha Advisors LLC purchased a new stake in shares of Cavco Industries during the 4th quarter valued at $215,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Cavco Industries by 58.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company’s stock worth $219,000 after purchasing an additional 181 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Wedbush restated a “neutral” rating and set a $550.00 price target on shares of Cavco Industries in a research note on Tuesday, May 27th.

Cavco Industries Trading Down 3.1%

NASDAQ CVCO opened at $415.36 on Thursday. Cavco Industries, Inc. has a 12-month low of $331.08 and a 12-month high of $549.99. The company has a fifty day simple moving average of $466.32 and a two-hundred day simple moving average of $483.05. The stock has a market cap of $3.36 billion, a P/E ratio of 20.01 and a beta of 1.16.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.17. The company had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. As a group, sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

About Cavco Industries

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.