Lucia Wealth Services LLC purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,059 shares of the construction company’s stock, valued at approximately $191,000.
Several other institutional investors and hedge funds also recently modified their holdings of CVCO. Summit Partners Public Asset Management LLC acquired a new position in Cavco Industries during the second quarter valued at $10,028,000. Tygh Capital Management Inc. increased its holdings in Cavco Industries by 83.2% during the 2nd quarter. Tygh Capital Management Inc. now owns 66,275 shares of the construction company’s stock valued at $12,781,000 after purchasing an additional 30,105 shares during the period. William Blair Investment Management LLC increased its holdings in Cavco Industries by 78.7% during the 2nd quarter. William Blair Investment Management LLC now owns 54,097 shares of the construction company’s stock valued at $10,433,000 after purchasing an additional 23,831 shares during the period. Prudential Financial Inc. increased its holdings in Cavco Industries by 27.0% during the 2nd quarter. Prudential Financial Inc. now owns 106,920 shares of the construction company’s stock valued at $20,620,000 after purchasing an additional 22,709 shares during the period. Finally, State Street Corp increased its holdings in Cavco Industries by 6.6% during the 1st quarter. State Street Corp now owns 287,895 shares of the construction company’s stock valued at $41,728,000 after purchasing an additional 17,896 shares during the period. 90.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CVCO stock traded up $2.30 during midday trading on Tuesday, reaching $201.07. 111 shares of the stock were exchanged, compared to its average volume of 56,228. Cavco Industries, Inc. has a 1 year low of $99.58 and a 1 year high of $236.10. The company’s 50 day moving average is $184.33 and its two-hundred day moving average is $184.92. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.83 billion, a PE ratio of 28.56 and a beta of 1.33.
Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, October 29th. The construction company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.43. Cavco Industries had a return on equity of 10.48% and a net margin of 6.20%. As a group, equities analysts expect that Cavco Industries, Inc. will post 7.07 EPS for the current fiscal year.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Cavco Industries from a “sell” rating to a “hold” rating in a report on Thursday, November 5th. Craig Hallum boosted their price target on Cavco Industries from $218.00 to $234.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Finally, Zacks Investment Research upgraded Cavco Industries from a “hold” rating to a “buy” rating and set a $216.00 target price on the stock in a report on Wednesday, November 4th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $215.00.
Cavco Industries Profile
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, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle, and Destiny brands.
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