Cavco Industries, Inc. (NASDAQ:CVCO) Issues Quarterly Earnings Results
Cavco Industries, Inc. (NASDAQ:CVCO) posted its earnings results on Monday. The construction company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.20, Briefing.com reports. The company had revenue of $206.80 million during the quarter, compared to the consensus estimate of $200.70 million. Cavco Industries had a net margin of 4.91% and a return on equity of 10.07%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share.
Shares of Cavco Industries (NASDAQ:CVCO) traded up 3.22% during mid-day trading on Tuesday, hitting $142.50. 56,988 shares of the stock were exchanged. The firm has a 50-day moving average price of $130.30 and a 200 day moving average price of $117.59. The company has a market capitalization of $1.28 billion, a PE ratio of 34.17 and a beta of 1.53. Cavco Industries has a 12-month low of $88.65 and a 12-month high of $143.10.
Separately, BidaskClub raised shares of Cavco Industries from a “sell” rating to a “hold” rating in a research report on Friday.
In other news, Director William C. Boor sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total transaction of $391,770.00. Following the completion of the transaction, the director now directly owns 6,397 shares of the company’s stock, valued at approximately $835,384.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.44% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its position in Cavco Industries by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock valued at $108,000 after buying an additional 20 shares in the last quarter. Texas Permanent School Fund boosted its position in Cavco Industries by 0.8% in the second quarter. Texas Permanent School Fund now owns 6,172 shares of the construction company’s stock valued at $800,000 after buying an additional 51 shares in the last quarter. Legal & General Group Plc boosted its position in Cavco Industries by 0.9% in the first quarter. Legal & General Group Plc now owns 14,009 shares of the construction company’s stock valued at $1,631,000 after buying an additional 125 shares in the last quarter. Mason Street Advisors LLC boosted its position in Cavco Industries by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock valued at $230,000 after buying an additional 130 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in Cavco Industries by 4.2% in the first quarter. Thrivent Financial For Lutherans now owns 4,750 shares of the construction company’s stock valued at $553,000 after buying an additional 190 shares in the last quarter. 98.08% of the stock is owned by institutional investors and hedge funds.
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Cavco Industries Company Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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