First Trust Advisors LP trimmed its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,068 shares of the construction company’s stock after selling 7,322 shares during the quarter. First Trust Advisors LP owned 0.21% of Cavco Industries worth $2,486,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CVCO. Vanguard Group Inc increased its stake in Cavco Industries by 38.0% in the 3rd quarter. Vanguard Group Inc now owns 681,115 shares of the construction company’s stock worth $172,322,000 after acquiring an additional 187,517 shares during the last quarter. Vanguard Group Inc. increased its stake in Cavco Industries by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 681,115 shares of the construction company’s stock worth $172,322,000 after acquiring an additional 187,517 shares during the last quarter. Prudential Financial Inc. increased its stake in Cavco Industries by 336.9% in the 3rd quarter. Prudential Financial Inc. now owns 82,831 shares of the construction company’s stock worth $20,956,000 after acquiring an additional 63,871 shares during the last quarter. Teachers Advisors LLC increased its stake in Cavco Industries by 95.8% in the 3rd quarter. Teachers Advisors LLC now owns 84,939 shares of the construction company’s stock worth $21,490,000 after acquiring an additional 41,569 shares during the last quarter. Finally, Morgan Stanley increased its stake in Cavco Industries by 107.9% in the 3rd quarter. Morgan Stanley now owns 63,786 shares of the construction company’s stock worth $16,138,000 after acquiring an additional 33,102 shares during the last quarter. Institutional investors own 93.20% of the company’s stock.
A number of brokerages have weighed in on CVCO. BidaskClub upgraded Cavco Industries from a “strong sell” rating to a “sell” rating in a research note on Monday, November 19th. Craig Hallum decreased their target price on Cavco Industries from $170.00 to $128.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 6th.
Shares of NASDAQ CVCO opened at $117.37 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 16.25 and a beta of 1.98. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 2.42. Cavco Industries, Inc. has a twelve month low of $117.36 and a twelve month high of $261.80.
Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Monday, February 4th. The construction company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.01). The business had revenue of $233.70 million during the quarter, compared to the consensus estimate of $238.05 million. Cavco Industries had a return on equity of 14.62% and a net margin of 7.34%. Cavco Industries’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share.
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About Cavco Industries
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
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