1,150 Shares in Cavco Industries, Inc. $CVCO Bought by R Squared Ltd

R Squared Ltd acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) in the 2nd quarter, Holdings Channel reports. The fund acquired 1,150 shares of the construction company’s stock, valued at approximately $500,000.

Several other large investors have also added to or reduced their stakes in CVCO. Stephens Inc. AR boosted its holdings in shares of Cavco Industries by 3.8% in the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company’s stock valued at $327,000 after acquiring an additional 23 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Cavco Industries by 2.6% in the first quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company’s stock valued at $816,000 after buying an additional 40 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Cavco Industries by 7.5% in the 1st quarter. Evergreen Capital Management LLC now owns 573 shares of the construction company’s stock worth $298,000 after acquiring an additional 40 shares in the last quarter. Arizona State Retirement System raised its position in shares of Cavco Industries by 1.9% during the 1st quarter. Arizona State Retirement System now owns 2,197 shares of the construction company’s stock worth $1,142,000 after purchasing an additional 41 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in shares of Cavco Industries by 2.0% during the second quarter. Sheets Smith Wealth Management now owns 2,214 shares of the construction company’s stock valued at $962,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Price Performance

Cavco Industries stock opened at $593.26 on Friday. The stock has a market cap of $4.70 billion, a PE ratio of 25.72 and a beta of 1.23. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $600.00. The stock’s fifty day moving average is $539.63 and its two-hundred day moving average is $485.27.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.61. The firm had revenue of $556.86 million for the quarter, compared to the consensus estimate of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. On average, research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, CAO Paul Bigbee sold 300 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the transaction, the chief accounting officer owned 774 shares of the company’s stock, valued at approximately $410,568.30. The trade was a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Blount sold 2,500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the transaction, the director owned 3,126 shares in the company, valued at approximately $1,623,331.80. This trade represents a 44.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,600 shares of company stock worth $2,820,884. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVCO shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Cavco Industries in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $522.50.

Cavco Industries Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.