Citigroup Inc. trimmed its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,045 shares of the construction company’s stock after selling 494 shares during the period. Citigroup Inc. owned 0.12% of Cavco Industries worth $3,192,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC purchased a new position in Cavco Industries during the first quarter worth about $271,000. Hunter Perkins Capital Management LLC acquired a new position in Cavco Industries during the 1st quarter worth approximately $376,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Cavco Industries by 17.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,867 shares of the construction company’s stock worth $2,006,000 after buying an additional 1,330 shares during the last quarter. Boston Partners raised its position in Cavco Industries by 8.4% in the 1st quarter. Boston Partners now owns 4,380 shares of the construction company’s stock valued at $1,392,000 after purchasing an additional 341 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Cavco Industries by 2.6% in the 4th quarter. First Trust Advisors LP now owns 13,574 shares of the construction company’s stock valued at $3,071,000 after buying an additional 340 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CVCO. Wedbush upped their price target on shares of Cavco Industries from $410.00 to $425.00 in a research note on Monday, May 22nd. Craig Hallum reduced their target price on shares of Cavco Industries from $357.00 to $338.00 in a report on Monday, May 22nd. Finally, StockNews.com began coverage on shares of Cavco Industries in a report on Thursday, August 17th. They set a “hold” rating on the stock.
Cavco Industries Price Performance
Shares of CVCO opened at $284.37 on Tuesday. The stock has a market capitalization of $2.47 billion, a PE ratio of 11.11 and a beta of 1.23. Cavco Industries, Inc. has a 12-month low of $193.91 and a 12-month high of $318.00. The business’s fifty day moving average price is $285.63 and its 200 day moving average price is $286.89.
Cavco Industries (NASDAQ:CVCO – Get Free Report) last released its earnings results on Thursday, August 3rd. The construction company reported $5.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.76 by ($1.47). The firm had revenue of $475.88 million for the quarter, compared to analyst estimates of $552.90 million. Cavco Industries had a return on equity of 23.41% and a net margin of 11.20%. As a group, research analysts anticipate that Cavco Industries, Inc. will post 20.05 earnings per share for the current fiscal year.
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.
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