Cannell & Spears LLC Decreases Holdings in Cavco Industries, Inc. $CVCO

Cannell & Spears LLC decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 83.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 791 shares of the construction company’s stock after selling 4,033 shares during the period. Cannell & Spears LLC’s holdings in Cavco Industries were worth $459,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Cavco Industries by 5.2% during the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock worth $9,849,000 after purchasing an additional 934 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cavco Industries by 1.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after purchasing an additional 90 shares during the last quarter. United Services Automobile Association bought a new position in Cavco Industries during the first quarter valued at $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cavco Industries by 15.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock valued at $9,289,000 after purchasing an additional 2,384 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Cavco Industries by 7.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,057 shares of the construction company’s stock worth $894,000 after buying an additional 139 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Price Performance

Shares of CVCO stock opened at $511.29 on Tuesday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 22.21 and a beta of 1.27. The company’s fifty day simple moving average is $589.78 and its two-hundred day simple moving average is $573.62. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, January 29th. The construction company reported $5.58 EPS for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The company had revenue of $580.99 million during the quarter, compared to the consensus estimate of $593.37 million. Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%. Equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CVCO. Zelman & Associates raised Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings lowered Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. 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, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cavco Industries has a consensus rating of “Hold” and a consensus price target of $550.00.

Insiders Place Their Bets

In related news, Director Steven W. Moster purchased 300 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of $456.23 per share, for a total transaction of $136,869.00. Following the completion of the transaction, the director directly owned 2,976 shares in the company, valued at approximately $1,357,740.48. This represents a 11.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William C. Boor purchased 1,000 shares of the stock in a transaction dated 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 completion of the acquisition, the chief executive officer owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. This represents a 2.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,800 shares of company stock worth $866,592 in the last quarter. 1.60% of the stock is owned by company insiders.

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.