Dimensional Fund Advisors LP raised its position in Cavco Industries Inc. (NASDAQ:CVCO) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 429,082 shares of the company’s stock after buying an additional 27,656 shares during the period. Dimensional Fund Advisors LP owned 4.80% of Cavco Industries worth $40,204,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its position in shares of Cavco Industries by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 1,125 shares of the company’s stock worth $105,000 after buying an additional 141 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cavco Industries by 1,925.3% in the second quarter. JPMorgan Chase & Co. now owns 2,005 shares of the company’s stock worth $188,000 after buying an additional 1,906 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Cavco Industries during the second quarter worth approximately $243,000. Capstone Asset Management Co. acquired a new position in shares of Cavco Industries during the second quarter worth approximately $249,000. Finally, Bank of Montreal Can acquired a new position in shares of Cavco Industries during the second quarter worth approximately $275,000. 95.69% of the stock is owned by institutional investors and hedge funds.
Shares of Cavco Industries Inc. (NASDAQ:CVCO) opened at 97.76 on Monday. Cavco Industries Inc. has a 12-month low of $70.28 and a 12-month high of $110.67. The stock has a 50 day moving average of $99.97 and a 200 day moving average of $96.11. The company has a market cap of $877.01 million, a price-to-earnings ratio of 31.04 and a beta of 1.85.
Cavco Industries (NASDAQ:CVCO) last released its earnings results on Tuesday, August 9th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.60. Cavco Industries had a net margin of 3.89% and a return on equity of 8.22%. The business earned $185.10 million during the quarter, compared to analyst estimates of $181.40 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts predict that Cavco Industries Inc. will post $3.55 earnings per share for the current fiscal year.
Separately, Sidoti initiated coverage on shares of Cavco Industries in a report on Wednesday, September 7th. They issued a “neutral” rating and a $114.00 target price for the company.
In other news, Director Steven G. Bunger sold 11,000 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $101.20, for a total transaction of $1,113,200.00. Following the completion of the sale, the director now owns 3,000 shares of the company’s stock, valued at $303,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.58% of the company’s stock.
About Cavco Industries
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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