Boston Partners Acquires New Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Posted by on Feb 15th, 2023

Boston Partners acquired a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,797 shares of the construction company’s stock, valued at approximately $576,000.

Other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. grew its stake in Cavco Industries by 53.0% during the third quarter. Financial Management Professionals Inc. now owns 355 shares of the construction company’s stock valued at $73,000 after acquiring an additional 123 shares in the last quarter. Captrust Financial Advisors grew its stake in Cavco Industries by 31.4% during the second quarter. Captrust Financial Advisors now owns 393 shares of the construction company’s stock valued at $77,000 after acquiring an additional 94 shares in the last quarter. US Bancorp DE grew its stake in Cavco Industries by 25.2% during the first quarter. US Bancorp DE now owns 388 shares of the construction company’s stock valued at $94,000 after acquiring an additional 78 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Cavco Industries by 13,920.0% during the second quarter. Meeder Asset Management Inc. now owns 701 shares of the construction company’s stock valued at $137,000 after acquiring an additional 696 shares in the last quarter. Finally, Zebra Capital Management LLC purchased a new position in Cavco Industries during the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 93.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Tuesday. Wedbush boosted their price target on shares of Cavco Industries from $385.00 to $410.00 and gave the stock an “outperform” rating in a research note on Monday, February 6th. Finally, Craig Hallum cut their price target on shares of Cavco Industries from $335.00 to $290.00 in a research note on Monday, November 7th.

Cavco Industries Stock Performance

Shares of CVCO opened at $287.65 on Wednesday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 10.52 and a beta of 1.19. Cavco Industries, Inc. has a fifty-two week low of $179.47 and a fifty-two week high of $299.36. The firm has a 50 day moving average price of $250.69 and a 200-day moving average price of $236.82.

Cavco Industries (NASDAQ:CVCO – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The construction company reported $6.66 earnings per share for the quarter, topping analysts’ consensus estimates of $5.85 by $0.81. The firm had revenue of $500.60 million during the quarter, compared to analyst estimates of $540.20 million. Cavco Industries had a net margin of 11.37% and a return on equity of 27.69%. As a group, equities research analysts predict that Cavco Industries, Inc. will post 27.36 earnings per share for the current year.

About Cavco Industries

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Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.

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Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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