Gamco Investors INC. ET AL Sells 8,802 Shares of Cavco Industries, Inc. $CVCO

Gamco Investors INC. ET AL decreased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,074 shares of the construction company’s stock after selling 8,802 shares during the period. Gamco Investors INC. ET AL’s holdings in Cavco Industries were worth $40,232,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Cavco Industries by 852,093.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after acquiring an additional 1,797,917 shares during the period. Boston Partners raised its position in shares of Cavco Industries by 82.8% in the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after acquiring an additional 167,230 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Cavco Industries by 53.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock valued at $126,166,000 after purchasing an additional 74,542 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Cavco Industries by 122.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company’s stock valued at $43,806,000 after purchasing an additional 40,832 shares during the period. Finally, Bamco Inc. NY bought a new stake in shares of Cavco Industries during the 4th quarter valued at about $21,903,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 1.4%

CVCO opened at $569.77 on Friday. Cavco Industries, Inc. has a 1-year low of $397.38 and a 1-year high of $713.01. The company has a market cap of $4.39 billion, a P/E ratio of 23.77 and a beta of 1.28. The company has a fifty day moving average price of $565.24 and a two-hundred day moving average price of $553.70.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, beating the consensus estimate of $5.30 by $0.12. The firm had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. On average, research analysts forecast that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the transaction, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allison Aden sold 1,473 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 9,147 shares in the company, valued at approximately $5,716,875. The trade was a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,541 shares of company stock valued at $2,121,932 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group initiated coverage on Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 target price for the company. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.