Bank of America Corp DE Increases Position in Cavco Industries, Inc. (CVCO)
Bank of America Corp DE raised its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 103.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,147 shares of the construction company’s stock after buying an additional 9,208 shares during the period. Bank of America Corp DE’s holdings in Cavco Industries were worth $2,112,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Cavco Industries by 179,350.7% in the first quarter. BlackRock Inc. now owns 1,178,991 shares of the construction company’s stock valued at $137,234,000 after buying an additional 1,178,334 shares in the last quarter. FMR LLC increased its position in Cavco Industries by 227.6% in the first quarter. FMR LLC now owns 329,968 shares of the construction company’s stock valued at $38,408,000 after buying an additional 229,239 shares in the last quarter. RWC Asset Management LLP increased its position in Cavco Industries by 62.2% in the first quarter. RWC Asset Management LLP now owns 94,998 shares of the construction company’s stock valued at $11,058,000 after buying an additional 36,426 shares in the last quarter. Vanguard Group Inc. increased its position in Cavco Industries by 5.7% in the first quarter. Vanguard Group Inc. now owns 441,885 shares of the construction company’s stock valued at $51,436,000 after buying an additional 23,796 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in Cavco Industries by 22.4% in the first quarter. GW&K Investment Management LLC now owns 110,989 shares of the construction company’s stock valued at $12,919,000 after buying an additional 20,289 shares in the last quarter. Institutional investors and hedge funds own 98.08% of the company’s stock.
Cavco Industries, Inc. (CVCO) traded down 4.63% during mid-day trading on Friday, reaching $126.80. 56,531 shares of the company’s stock were exchanged. Cavco Industries, Inc. has a one year low of $88.65 and a one year high of $143.10. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 26.15 and a beta of 1.53. The stock has a 50-day moving average of $131.32 and a 200-day moving average of $119.41.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.20. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The firm had revenue of $206.80 million during the quarter, compared to the consensus estimate of $200.70 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts anticipate that Cavco Industries, Inc. will post $4.80 earnings per share for the current year.
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Separately, BidaskClub raised Cavco Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 16th.
In other news, Director William C. Boor sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $130.59, for a total transaction of $391,770.00. Following the transaction, the director now directly owns 6,397 shares of the company’s stock, valued at $835,384.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.44% of the stock is currently owned by insiders.
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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