Rafferty Asset Management LLC Acquires 5,448 Shares of Cavco Industries, Inc. $CVCO

Rafferty Asset Management LLC grew its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 83.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,951 shares of the construction company’s stock after purchasing an additional 5,448 shares during the quarter. Rafferty Asset Management LLC owned about 0.15% of Cavco Industries worth $6,940,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVCO. Handelsbanken Fonder AB raised its holdings in shares of Cavco Industries by 6.8% in the third quarter. Handelsbanken Fonder AB now owns 81,786 shares of the construction company’s stock valued at $47,496,000 after buying an additional 5,200 shares during the last quarter. Neumeier Poma Investment Counsel LLC increased its position in Cavco Industries by 34.6% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 38,777 shares of the construction company’s stock valued at $22,519,000 after acquiring an additional 9,961 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Cavco Industries by 28.0% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,472 shares of the construction company’s stock worth $2,016,000 after acquiring an additional 760 shares during the last quarter. Guidance Capital Inc. raised its stake in shares of Cavco Industries by 3.3% in the third quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock worth $663,000 after acquiring an additional 36 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cavco Industries by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company’s stock worth $18,616,000 after purchasing an additional 13,694 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Stock Performance

CVCO opened at $563.11 on Tuesday. The company has a fifty day moving average price of $603.22 and a two-hundred day moving average price of $571.78. The firm has a market capitalization of $4.37 billion, a PE ratio of 24.46 and a beta of 1.27. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly 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). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The company had revenue of $580.99 million during the quarter, compared to the consensus estimate of $593.37 million. Equities analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVCO. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings cut Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One 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 given a Sell rating to the company’s stock. According to MarketBeat, Cavco Industries currently has a consensus rating of “Hold” and an average price target of $550.00.

Insiders Place Their Bets

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

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.