Edgestream Partners L.P. Has $467,000 Holdings in Cavco Industries, Inc. $CVCO

Edgestream Partners L.P. decreased its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 63.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 965 shares of the construction company’s stock after selling 1,690 shares during the quarter. Edgestream Partners L.P.’s holdings in Cavco Industries were worth $467,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Cavco Industries in the 4th quarter valued at $46,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries during the fourth quarter worth $50,000. Los Angeles Capital Management LLC bought a new position in Cavco Industries during the fourth quarter worth $54,000. Osaic Holdings Inc. raised its stake in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares during the last quarter. Finally, Danske Bank A S acquired a new position in Cavco Industries in the third quarter valued at $58,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Up 3.6%

Shares of CVCO stock opened at $586.96 on Thursday. The firm has a 50 day moving average of $576.02 and a 200-day moving average of $548.32. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 25.54 and a beta of 1.29. Cavco Industries, Inc. has a 52 week low of $441.95 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The company had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. Analysts anticipate that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Insider Buying and Selling at Cavco Industries

In other news, EVP Allison Aden sold 1,473 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the transaction, the executive vice president owned 9,147 shares in the company, valued at approximately $5,716,875. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Kerley sold 500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the transaction, the director directly owned 6,169 shares in the company, valued at $3,632,060.44. This trade represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,571 shares of company stock valued at $2,139,031. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CVCO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Zacks Research lowered Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, UBS Group assumed coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cavco Industries has a consensus rating of “Moderate Buy” and an average price target of $700.00.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.