GW&K Investment Management LLC increased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 13.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,597 shares of the construction company’s stock after purchasing an additional 22,584 shares during the period. GW&K Investment Management LLC owned 2.05% of Cavco Industries worth $36,036,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CVCO. AdvisorNet Financial Inc acquired a new position in Cavco Industries in the second quarter worth about $29,000. Meeder Asset Management Inc. acquired a new position in Cavco Industries in the third quarter valued at approximately $34,000. Acadian Asset Management LLC acquired a new position in Cavco Industries in the second quarter valued at approximately $64,000. FNY Investment Advisers LLC acquired a new position in Cavco Industries in the third quarter valued at approximately $96,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Cavco Industries by 13.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 719 shares of the construction company’s stock valued at $113,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 92.81% of the company’s stock.
CVCO stock traded down $0.55 during midday trading on Friday, reaching $191.12. The company had a trading volume of 33,800 shares, compared to its average volume of 94,552. The firm has a market capitalization of $1.77 billion, a PE ratio of 24.02 and a beta of 1.57. Cavco Industries, Inc. has a fifty-two week low of $112.00 and a fifty-two week high of $210.00. The stock has a 50 day moving average price of $194.16 and a 200 day moving average price of $167.49. The company has a quick ratio of 2.19, a current ratio of 2.87 and a debt-to-equity ratio of 0.04.
Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $2.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.09. The company had revenue of $268.70 million for the quarter, compared to analysts’ expectations of $267.37 million. Cavco Industries had a return on equity of 13.79% and a net margin of 7.50%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share.
A number of brokerages have commented on CVCO. Craig Hallum lifted their target price on Cavco Industries from $153.00 to $173.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. BidaskClub downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st.
Cavco Industries Profile
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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