First Trust Advisors LP Purchases 978 Shares of Cavco Industries, Inc. $CVCO

First Trust Advisors LP lifted its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 28.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,380 shares of the construction company’s stock after buying an additional 978 shares during the quarter. First Trust Advisors LP’s holdings in Cavco Industries were worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in Cavco Industries by 852,093.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock valued at $1,062,226,000 after buying an additional 1,797,917 shares during the last quarter. Boston Partners lifted its position in Cavco Industries by 82.8% during the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after acquiring an additional 167,230 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Cavco Industries by 53.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock valued at $126,166,000 after acquiring an additional 74,542 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Cavco Industries by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company’s stock valued at $43,806,000 after acquiring an additional 40,832 shares during the period. Finally, Bamco Inc. NY acquired a new stake in shares of Cavco Industries in the fourth quarter valued at about $21,903,000. 95.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the completion of the sale, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the sale, the director directly owned 6,169 shares in the company, valued at $3,632,060.44. The trade was a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,571 shares of company stock worth $2,139,031. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Stock Performance

Shares of CVCO opened at $592.23 on Friday. The company has a 50-day simple moving average of $577.93 and a 200-day simple moving average of $547.80. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01. The firm has a market capitalization of $4.55 billion, a P/E ratio of 25.77 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 for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The firm had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. As a group, equities analysts forecast that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. UBS Group began coverage on Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 target price for the company. Zelman & Associates lowered Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday. Finally, Zacks Research downgraded Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cavco Industries presently has a consensus rating of “Hold” and a consensus price target of $700.00.

About Cavco Industries

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.