Schroder Investment Management Group Sells 18,478 Shares of Cavco Industries, Inc. $CVCO

Schroder Investment Management Group lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 14.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,628 shares of the construction company’s stock after selling 18,478 shares during the quarter. Schroder Investment Management Group’s holdings in Cavco Industries were worth $65,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new position in Cavco Industries in the third quarter worth $819,000. Jump Financial LLC boosted its holdings in shares of Cavco Industries by 3,047.3% during the 2nd quarter. Jump Financial LLC now owns 23,070 shares of the construction company’s stock valued at $10,022,000 after buying an additional 22,337 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Cavco Industries by 74.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,317 shares of the construction company’s stock worth $9,580,000 after buying an additional 6,942 shares during the period. Confluence Investment Management LLC grew its position in shares of Cavco Industries by 62.6% in the 3rd quarter. Confluence Investment Management LLC now owns 12,287 shares of the construction company’s stock worth $7,135,000 after buying an additional 4,729 shares during the period. Finally, Caxton Associates LLP bought a new position in shares of Cavco Industries in the 2nd quarter worth about $1,238,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Stock Performance

Shares of Cavco Industries stock opened at $521.74 on Wednesday. The company has a 50-day simple moving average of $596.81 and a two-hundred day simple moving average of $574.21. The stock has a market capitalization of $4.05 billion, a PE ratio of 22.66 and a beta of 1.28. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, January 29th. The construction company reported $5.58 EPS for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The firm had revenue of $580.99 million for the quarter, compared to analysts’ expectations of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CEO William C. Boor acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average cost of $495.00 per share, with a total value of $495,000.00. Following the transaction, the chief executive officer owned 48,022 shares of the company’s stock, valued at $23,770,890. The trade was a 2.13% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Greenblatt bought 413 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were acquired at an average price of $463.01 per share, for a total transaction of $191,223.13. Following the completion of the purchase, the director owned 15,989 shares in the company, valued at approximately $7,403,066.89. The trade was a 2.65% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 1,800 shares of company stock valued at $866,592. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVCO shares. Weiss Ratings cut shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Zelman & Associates upgraded shares of Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cavco Industries has an average rating of “Hold” and a consensus price target of $550.00.

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.