Avalon Investment & Advisory trimmed its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 22.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,297 shares of the construction company’s stock after selling 2,619 shares during the period. Avalon Investment & Advisory owned about 0.10% of Cavco Industries worth $1,793,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CVCO. Wellington Management Group LLP boosted its position in shares of Cavco Industries by 64.2% during the 1st quarter. Wellington Management Group LLP now owns 665,529 shares of the construction company’s stock worth $96,461,000 after purchasing an additional 260,320 shares in the last quarter. State Street Corp increased its stake in shares of Cavco Industries by 6.6% during the 1st quarter. State Street Corp now owns 287,895 shares of the construction company’s stock worth $41,728,000 after purchasing an additional 17,896 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in Cavco Industries by 0.4% in the 2nd quarter. GW&K Investment Management LLC now owns 160,560 shares of the construction company’s stock worth $30,964,000 after buying an additional 687 shares during the period. Geode Capital Management LLC boosted its holdings in Cavco Industries by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 147,988 shares of the construction company’s stock worth $21,449,000 after buying an additional 9,988 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Cavco Industries by 35.5% in the 2nd quarter. Fisher Asset Management LLC now owns 67,239 shares of the construction company’s stock valued at $12,967,000 after purchasing an additional 17,618 shares during the period. Institutional investors and hedge funds own 90.75% of the company’s stock.
NASDAQ CVCO traded down $2.95 on Thursday, hitting $201.33. 369 shares of the company’s stock traded hands, compared to its average volume of 42,183. The company has a current ratio of 3.06, a quick ratio of 2.47 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.88 billion, a PE ratio of 26.95 and a beta of 1.60. The firm’s 50-day moving average price is $194.36 and its two-hundred day moving average price is $180.68. Cavco Industries, Inc. has a 1-year low of $99.58 and a 1-year high of $236.10.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.06 by $0.74. Cavco Industries had a net margin of 6.69% and a return on equity of 11.58%. The company had revenue of $254.80 million during the quarter, compared to analyst estimates of $211.70 million. On average, research analysts anticipate that Cavco Industries, Inc. will post 6.71 earnings per share for the current fiscal year.
CVCO has been the topic of a number of analyst reports. Craig Hallum boosted their price objective on shares of Cavco Industries from $204.00 to $218.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. BidaskClub cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Wedbush initiated coverage on shares of Cavco Industries in a research report on Monday, July 13th. They set a “neutral” rating and a $195.00 target price for the company. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of Cavco Industries from a “c+” rating to a “b-” rating in a research report on Friday, June 12th.
About Cavco Industries
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
Read More: Earnings Per Share
Receive News & Ratings for Cavco Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavco Industries and related companies with MarketBeat.com's FREE daily email newsletter.