Cavco Industries, Inc. (CVCO) Position Raised by Citigroup Inc.
Citigroup Inc. increased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 2,720.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,762 shares of the construction company’s stock after buying an additional 11,345 shares during the quarter. Citigroup Inc. owned about 0.13% of Cavco Industries worth $1,525,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pinebridge Investments L.P. increased its holdings in Cavco Industries by 573.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,428 shares of the construction company’s stock worth $963,000 after buying an additional 6,325 shares in the last quarter. Thrivent Financial For Lutherans raised its position in Cavco Industries by 7.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,100 shares of the construction company’s stock worth $661,000 after buying an additional 350 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Cavco Industries by 0.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 53,831 shares of the construction company’s stock valued at $6,980,000 after acquiring an additional 499 shares during the period. Nationwide Fund Advisors lifted its stake in Cavco Industries by 60.1% during the 2nd quarter. Nationwide Fund Advisors now owns 11,361 shares of the construction company’s stock valued at $1,473,000 after acquiring an additional 4,267 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in Cavco Industries by 18.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 47,309 shares of the construction company’s stock valued at $6,134,000 after acquiring an additional 7,255 shares during the period. Institutional investors own 92.66% of the company’s stock.
A number of analysts have recently issued reports on CVCO shares. BidaskClub raised shares of Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Sidoti upgraded shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research note on Friday, August 25th.
In other Cavco Industries news, Director David A. Greenblatt sold 3,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 10,175 shares in the company, valued at $1,390,719. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.44% of the company’s stock.
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Cavco Industries, Inc. (NASDAQ:CVCO) opened at 147.55 on Monday. Cavco Industries, Inc. has a 12 month low of $88.65 and a 12 month high of $150.00. The company’s 50-day moving average is $132.99 and its 200-day moving average is $123.97. The company has a market cap of $1.33 billion, a P/E ratio of 30.43 and a beta of 1.56.
Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $200.70 million. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Cavco Industries, Inc. will post $4.71 EPS for the current fiscal year.
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.
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