Hsbc Holdings PLC Invests $898,000 in Cavco Industries, Inc. $CVCO

Hsbc Holdings PLC purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,516 shares of the construction company’s stock, valued at approximately $898,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada grew its position in Cavco Industries by 5.2% during the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock valued at $9,849,000 after purchasing an additional 934 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cavco Industries by 1.9% in the first 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 position in Cavco Industries in the first quarter worth about $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cavco Industries by 15.4% in the first 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 during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after buying an additional 22 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Transactions at Cavco Industries

In related news, EVP Allison Aden sold 1,473 shares of Cavco Industries stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the sale, the executive vice president owned 9,147 shares of the company’s stock, valued at $5,716,875. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total value of $294,380.00. Following the sale, the director owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,541 shares of company stock worth $2,121,932 in the last ninety days. Insiders own 1.70% of the company’s stock.

Cavco Industries Stock Down 2.1%

Shares of Cavco Industries stock opened at $555.08 on Tuesday. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 23.16 and a beta of 1.28. The company’s 50 day moving average is $548.76 and its 200 day moving average is $555.17. Cavco Industries, Inc. has a twelve month low of $397.38 and a twelve month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The business had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Sell-side analysts expect that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVCO has been the topic of a number of recent analyst reports. UBS Group started coverage on shares of Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price target on the stock. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average target price of $625.00.

Cavco Industries Profile

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.