American International Group Inc. raised its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,758 shares of the construction company’s stock after acquiring an additional 371 shares during the quarter. American International Group Inc. owned approximately 0.07% of Cavco Industries worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CVCO. Victory Capital Management Inc. boosted its stake in shares of Cavco Industries by 17.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,517 shares of the construction company’s stock worth $197,000 after acquiring an additional 229 shares during the last quarter. Commonwealth Equity Services Inc purchased a new position in shares of Cavco Industries during the 3rd quarter worth $218,000. Pinnacle Associates Ltd. purchased a new position in shares of Cavco Industries during the 2nd quarter worth $226,000. Piedmont Investment Advisors LLC purchased a new position in shares of Cavco Industries during the 2nd quarter worth $237,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Cavco Industries during the 2nd quarter worth $271,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Cavco Industries, Inc. (CVCO) opened at $146.80 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.66 and a current ratio of 2.25. Cavco Industries, Inc. has a one year low of $93.65 and a one year high of $157.80. The firm has a market cap of $1,310.81, a price-to-earnings ratio of 32.34 and a beta of 1.60.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Tuesday, November 7th. The construction company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.13). Cavco Industries had a net margin of 5.09% and a return on equity of 10.30%. The firm had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $190.87 million. During the same quarter last year, the firm posted $1.04 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year.

In related news, Director Jack Hanna sold 2,464 shares of Cavco Industries stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $147.96, for a total transaction of $364,573.44. Following the transaction, the director now owns 2,281 shares in the company, valued at approximately $337,496.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $146.50, for a total transaction of $586,000.00. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $586,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,464 shares of company stock worth $1,381,433. 8.44% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on CVCO shares. Sidoti upgraded shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research note on Friday, August 25th. BidaskClub cut shares of Cavco Industries from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th.

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Cavco Industries Profile

Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.

Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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