Philadelphia Financial Management of San Francisco LLC Takes Position in Cavco Industries, Inc. $CVCO

Philadelphia Financial Management of San Francisco LLC purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,810 shares of the construction company’s stock, valued at approximately $5,412,688,000.

Other large investors have also made changes to their positions in the company. UBS Group AG raised its holdings in shares of Cavco Industries by 31.5% in the 4th quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after purchasing an additional 9,589 shares during the period. Fifth Third Bancorp raised its stake in shares of Cavco Industries by 599.0% in the 1st quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock valued at $1,367,000 after acquiring an additional 2,420 shares during the period. Robotti Robert acquired a new position in shares of Cavco Industries during the 2nd quarter valued at $19,903,000. Intech Investment Management LLC boosted its stake in shares of Cavco Industries by 58.0% in the fourth quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock valued at $3,406,000 after purchasing an additional 2,116 shares during the period. Finally, Pier Capital LLC increased its position in shares of Cavco Industries by 90.8% during the fourth quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock worth $7,150,000 after acquiring an additional 5,761 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVCO shares. Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. UBS Group assumed coverage on Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cavco Industries currently has a consensus rating of “Hold” and a consensus price target of $700.00.

Cavco Industries Price Performance

Shares of CVCO opened at $577.36 on Thursday. The company has a market cap of $4.44 billion, a P/E ratio of 25.12 and a beta of 1.29. The stock has a fifty day moving average price of $583.42 and a 200 day moving average price of $546.42. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The firm had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. As a group, research analysts anticipate that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Insider Transactions at Cavco Industries

In other news, CAO Paul Bigbee sold 342 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the completion of the sale, the chief accounting officer owned 736 shares in the company, valued at $435,712. This represents a 31.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Allison Aden sold 1,473 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the transaction, the executive vice president directly owned 9,147 shares in the company, valued at $5,716,875. This represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,553 shares of company stock valued at $2,159,368. 1.70% of the stock is currently owned by corporate insiders.

Cavco Industries Profile

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.