Cavco Industries, Inc. $CVCO is Robotti Robert’s 7th Largest Position

Robotti Robert lessened its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 10.4% during the second quarter, HoldingsChannel.com reports. The fund owned 36,162 shares of the construction company’s stock after selling 4,181 shares during the quarter. Cavco Industries makes up about 3.0% of Robotti Robert’s portfolio, making the stock its 7th biggest holding. Robotti Robert’s holdings in Cavco Industries were worth $15,710,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CVCO. Vanguard Group Inc. increased its stake in Cavco Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock worth $402,631,000 after buying an additional 37,249 shares during the period. Boston Partners boosted its holdings in Cavco Industries by 5,371.3% in the second quarter. Boston Partners now owns 201,947 shares of the construction company’s stock worth $87,847,000 after purchasing an additional 198,256 shares during the period. Invesco Ltd. grew its position in shares of Cavco Industries by 7.5% during the 1st quarter. Invesco Ltd. now owns 196,210 shares of the construction company’s stock valued at $101,957,000 after buying an additional 13,753 shares during the last quarter. Broad Bay Capital Management LP grew its stake in 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 worth $92,592,000 after buying an additional 27,503 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Cavco Industries by 64.0% in the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock valued at $80,940,000 after purchasing an additional 60,779 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $584.22 on Tuesday. The firm has a market capitalization of $4.56 billion, a PE ratio of 25.32 and a beta of 1.21. The company’s fifty day moving average price is $556.70 and its two-hundred day moving average price is $498.22. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $613.77.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $6.30 by $0.25. The business had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. Analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a report on Monday, November 24th. Wedbush reaffirmed a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Finally, Zacks Research upgraded shares of Cavco Industries from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. One research 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 data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $550.00.

Insiders Place Their Bets

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the sale, the director directly owned 6,669 shares in the company, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

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.