South Shore Capital Advisors Acquires New Position in Cavco Industries, Inc. $CVCO

South Shore Capital Advisors acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,620 shares of the construction company’s stock, valued at approximately $957,000. Cavco Industries accounts for about 0.7% of South Shore Capital Advisors’ investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in CVCO. Salomon & Ludwin LLC acquired a new stake in Cavco Industries in the third quarter valued at about $31,000. Osaic Holdings Inc. lifted its position in Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after purchasing an additional 65 shares during the period. Danske Bank A S acquired a new stake in Cavco Industries in the third quarter valued at about $58,000. Mather Group LLC. acquired a new stake in Cavco Industries in the third quarter valued at about $63,000. Finally, CIBC Private Wealth Group LLC lifted its position in Cavco Industries by 72.5% in the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock valued at $69,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Trading Up 0.3%

Shares of Cavco Industries stock opened at $481.27 on Tuesday. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The stock has a market cap of $3.73 billion, a PE ratio of 20.91 and a beta of 1.33. The company has a 50-day moving average of $532.16 and a two-hundred day moving average of $566.59.

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

Insider Buying and Selling

In related news, CEO William C. Boor acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average cost of $495.00 per share, for a total transaction of $495,000.00. Following the transaction, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. This trade represents a 2.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Greenblatt acquired 413 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were bought at an average price of $463.01 per share, with a total value of $191,223.13. Following the completion of the transaction, the director directly owned 15,989 shares in the company, valued at approximately $7,403,066.89. The trade was a 2.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 1,800 shares of company stock worth $866,592 in the last ninety days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

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

Cavco Industries Company 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.