Legal & General Group Plc Acquires Shares of 17,977 Cavco Industries, Inc. $CVCO

Legal & General Group Plc acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,977 shares of the construction company’s stock, valued at approximately $11,045,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVCO. Silvant Capital Management LLC acquired a new stake in shares of Cavco Industries in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC acquired a new position in Cavco Industries during the second quarter worth approximately $28,000. Allworth Financial LP purchased a new stake in Cavco Industries in the second quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd purchased a new stake in Cavco Industries in the fourth quarter valued at approximately $46,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insider Buying and Selling

In related news, EVP Allison Aden sold 1,473 shares of Cavco Industries stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total value of $920,625.00. Following the transaction, the executive vice president directly owned 9,147 shares in the company, valued at $5,716,875. This trade represents a 13.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the transaction, the director directly owned 6,169 shares in the company, valued at $3,632,060.44. This represents a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,553 shares of company stock valued at $2,159,368 over the last three months. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Trading Down 1.6%

Cavco Industries stock opened at $559.13 on Tuesday. Cavco Industries, Inc. has a twelve month low of $443.33 and a twelve month high of $713.01. The stock has a 50 day moving average of $581.57 and a two-hundred day moving average of $546.69. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 24.33 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The company had revenue of $609.96 million during the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. Equities analysts predict that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Analysts Set New Price Targets

CVCO has been the topic of a number of research reports. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. UBS Group initiated coverage on shares of Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cavco Industries currently has an average rating of “Hold” and a consensus target price of $700.00.

Cavco Industries 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.