Neumeier Poma Investment Counsel LLC Purchases 9,961 Shares of Cavco Industries, Inc. $CVCO

Neumeier Poma Investment Counsel LLC boosted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 34.6% during the 3rd quarter, Holdings Channel reports. The fund owned 38,777 shares of the construction company’s stock after buying an additional 9,961 shares during the period. Neumeier Poma Investment Counsel LLC’s holdings in Cavco Industries were worth $22,519,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Cavco Industries by 6.1% during the 2nd quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after purchasing an additional 21,837 shares during the last quarter. Boston Partners raised its holdings in Cavco Industries by 5,371.3% in the second quarter. Boston Partners now owns 201,947 shares of the construction company’s stock worth $87,847,000 after purchasing an additional 198,256 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Cavco Industries by 76.9% during the second quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company’s stock valued at $56,522,000 after buying an additional 56,578 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Cavco Industries by 41.1% during the second quarter. Handelsbanken Fonder AB now owns 76,586 shares of the construction company’s stock valued at $33,271,000 after buying an additional 22,300 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Cavco Industries by 22.0% in the 3rd quarter. Bessemer Group Inc. now owns 66,614 shares of the construction company’s stock valued at $38,684,000 after buying an additional 11,996 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity at Cavco Industries

In other news, CEO William C. Boor acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were bought at an average cost of $495.00 per share, for a total transaction of $495,000.00. Following the acquisition, the chief executive officer owned 48,022 shares in the company, valued at approximately $23,770,890. This represents a 2.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Greenblatt acquired 413 shares of Cavco Industries stock in a transaction that occurred on Tuesday, February 3rd. The stock was purchased at an average cost of $463.01 per share, with a total value of $191,223.13. Following the completion of the purchase, the director owned 15,989 shares in the company, valued at $7,403,066.89. The trade was a 2.65% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,800 shares of company stock worth $866,592 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Trading Down 1.5%

Shares of NASDAQ:CVCO opened at $580.95 on Thursday. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $713.01. The company’s 50 day moving average is $605.30 and its 200 day moving average is $569.09. The company has a market cap of $4.51 billion, a PE ratio of 25.24 and a beta of 1.32.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 29th. Zelman & Associates raised Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Finally, Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average target price of $550.00.

About Cavco Industries

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.