Robotti Robert Takes $19.90 Million Position in Cavco Industries, Inc. $CVCO

Robotti Robert purchased a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 32,396 shares of the construction company’s stock, valued at approximately $19,903,000. Cavco Industries makes up 3.2% of Robotti Robert’s portfolio, making the stock its 6th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Global Retirement Partners LLC bought a new stake in shares of Cavco Industries during the second quarter worth approximately $28,000. Aster Capital Management DIFC Ltd bought a new position in Cavco Industries in the fourth quarter valued at approximately $46,000. Kemnay Advisory Services Inc. acquired a new stake in Cavco Industries during the 4th quarter worth $50,000. Persistent Asset Partners Ltd acquired a new stake in Cavco Industries during the 2nd quarter worth $52,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Cavco Industries during the 4th quarter valued at $54,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $584.77 on Wednesday. The stock has a market cap of $4.50 billion, a P/E ratio of 25.45 and a beta of 1.29. The firm has a 50 day moving average price of $584.05 and a 200 day moving average price of $543.45. Cavco Industries, Inc. has a 52-week low of $443.33 and a 52-week 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 for the quarter, missing the consensus estimate of $5.69 by ($0.26). The firm had revenue of $609.96 million during the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. Analysts predict that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 sale, the executive vice president owned 9,147 shares in the company, valued at $5,716,875. This represents a 13.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction 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. The SEC filing for this sale provides additional information. Insiders sold 3,442 shares of company stock valued at $2,080,238 in the last quarter. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. UBS Group began coverage on Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective for the company. Finally, Zacks Research lowered Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cavco Industries has a consensus rating of “Hold” and an average target price of $700.00.

Cavco Industries Company 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.