Ameriprise Financial Inc. Sells 9,846 Shares of Cavco Industries, Inc. (CVCO)
Ameriprise Financial Inc. reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,035 shares of the construction company’s stock after selling 9,846 shares during the period. Ameriprise Financial Inc. owned approximately 1.20% of Cavco Industries worth $14,008,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock worth $150,000 after acquiring an additional 329 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Cavco Industries by 78.7% in the second quarter. State of Alaska Department of Revenue now owns 1,662 shares of the construction company’s stock worth $215,000 after acquiring an additional 732 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Cavco Industries in the first quarter worth $202,000. Pinnacle Associates Ltd. purchased a new stake in shares of Cavco Industries in the second quarter worth $226,000. Finally, Mason Street Advisors LLC grew its stake in shares of Cavco Industries by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock worth $230,000 after acquiring an additional 130 shares during the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director David A. Greenblatt sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $136.68, for a total value of $410,040.00. Following the completion of the transaction, the director now directly owns 10,175 shares of the company’s stock, valued at approximately $1,390,719. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.44% of the company’s stock.
CVCO has been the topic of a number of recent research reports. BidaskClub cut Cavco Industries from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Sidoti raised Cavco Industries from a “neutral” rating to a “buy” rating in a research note on Friday, August 25th.
Shares of Cavco Industries, Inc. (CVCO) opened at 151.35 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of 31.21 and a beta of 1.57. Cavco Industries, Inc. has a 1-year low of $88.65 and a 1-year high of $153.57. The stock has a 50 day moving average price of $137.71 and a 200-day moving average price of $126.55.
Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Monday, August 7th. The construction company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.20. The firm had revenue of $206.80 million during the quarter, compared to analyst estimates of $200.70 million. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. On average, analysts forecast that Cavco Industries, Inc. will post $4.71 earnings per share for the current year.
Cavco Industries Company 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.
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