Cavco Industries, Inc. $CVCO Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 56.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 716 shares of the construction company’s stock after selling 922 shares during the quarter. SG Americas Securities LLC’s holdings in Cavco Industries were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of Cavco Industries by 5.2% in the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock valued at $9,849,000 after buying an additional 934 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cavco Industries by 1.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock worth $2,494,000 after buying an additional 90 shares during the period. United Services Automobile Association purchased a new stake in shares of Cavco Industries during the first quarter worth approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cavco Industries by 15.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock valued at $9,289,000 after acquiring an additional 2,384 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $567.96 on Friday. Cavco Industries, Inc. has a 1-year low of $397.38 and a 1-year high of $713.01. The stock has a market cap of $4.38 billion, a P/E ratio of 23.69 and a beta of 1.28. The firm has a fifty day moving average price of $546.42 and a 200 day moving average price of $555.75.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The company had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Sell-side analysts expect that Cavco Industries, Inc. will post 25 EPS for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the sale, the executive vice president directly owned 9,147 shares of the company’s stock, valued at approximately $5,716,875. This trade represents a 13.87% decrease in their position. The transaction 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 the 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 of the company’s stock, valued at $3,632,060.44. The trade was a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,541 shares of company stock valued at $2,121,932 over the last quarter. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on CVCO. UBS Group initiated coverage on shares of Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price target for the company. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $625.00.

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.