Strs Ohio raised its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 91.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,400 shares of the construction company’s stock after acquiring an additional 2,100 shares during the quarter. Strs Ohio’s holdings in Cavco Industries were worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in CVCO. Royal Bank of Canada increased its stake in shares of Cavco Industries by 5.2% in the first quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock worth $9,849,000 after purchasing an additional 934 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cavco Industries by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after buying an additional 90 shares in the last quarter. United Services Automobile Association bought a new position in Cavco Industries in the 1st quarter worth approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cavco Industries by 15.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock worth $9,289,000 after buying an additional 2,384 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.
Cavco Industries Price Performance
NASDAQ:CVCO traded down $4.04 during trading hours on Tuesday, hitting $582.47. The stock had a trading volume of 5,770 shares, compared to its average volume of 168,271. The company has a 50 day simple moving average of $544.63 and a two-hundred day simple moving average of $556.56. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 24.30 and a beta of 1.28. Cavco Industries, Inc. has a one year low of $397.38 and a one year high of $713.01.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on CVCO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. UBS Group initiated coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company. Finally, Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $625.00.
Get Our Latest Analysis on Cavco Industries
Insider Activity at Cavco Industries
In related news, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 9,147 shares in the company, valued at $5,716,875. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the completion of the transaction, the chief accounting officer owned 1,105 shares in the company, valued at $594,213.75. This represents a 15.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,541 shares of company stock valued at $2,121,932. Company insiders own 1.70% of the company’s stock.
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.
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