Gamco Investors INC. ET AL Decreases Holdings in Cavco Industries, Inc. $CVCO

Gamco Investors INC. ET AL decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,528 shares of the construction company’s stock after selling 1,855 shares during the quarter. Gamco Investors INC. ET AL owned approximately 1.25% of Cavco Industries worth $56,637,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Cavco Industries by 5.2% during the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock worth $9,849,000 after purchasing an additional 934 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cavco Industries by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock worth $2,494,000 after buying an additional 90 shares during the last quarter. United Services Automobile Association purchased a new stake in Cavco Industries during the 1st quarter worth approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cavco Industries by 15.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock worth $9,289,000 after buying an additional 2,384 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Cavco Industries by 14.1% during the second quarter. Bank of New York Mellon Corp now owns 63,967 shares of the construction company’s stock valued at $27,789,000 after acquiring an additional 7,902 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Down 4.6%

Shares of NASDAQ CVCO opened at $536.49 on Friday. The stock has a market cap of $4.16 billion, a PE ratio of 23.31 and a beta of 1.28. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The company has a 50-day moving average of $599.86 and a 200 day moving average of $572.72.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The business had revenue of $580.99 million during the quarter, compared to analysts’ expectations of $593.37 million. Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%. On average, sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Analysts Set New Price Targets

CVCO has been the topic of several research reports. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. CJS Securities raised Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $550.00.

Insider Buying and Selling

In related news, CEO William C. Boor acquired 1,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 4th. The shares were purchased at an average price of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the transaction, the chief executive officer owned 48,022 shares in the company, valued at $23,770,890. This represents a 2.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Greenblatt acquired 413 shares of the stock in a transaction on Tuesday, February 3rd. The shares were bought at an average cost of $463.01 per share, for a total transaction of $191,223.13. Following the purchase, the director directly owned 15,989 shares of the company’s stock, valued at $7,403,066.89. The trade was a 2.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 1,800 shares of company stock worth $866,592. 1.60% of the stock is owned by corporate insiders.

About Cavco Industries

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.