Bank of New York Mellon Corp Sells 6,401 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Bank of New York Mellon Corp reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 6.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 92,834 shares of the construction company’s stock after selling 6,401 shares during the quarter. Bank of New York Mellon Corp owned 1.12% of Cavco Industries worth $32,136,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Anchor Capital Advisors LLC increased its position in Cavco Industries by 0.7% in the first quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company’s stock worth $1,976,000 after buying an additional 32 shares during the last quarter. Moran Wealth Management LLC raised its stake in Cavco Industries by 5.4% in the 4th quarter. Moran Wealth Management LLC now owns 893 shares of the construction company’s stock valued at $310,000 after acquiring an additional 46 shares during the period. Seven Eight Capital LP lifted its holdings in Cavco Industries by 3.8% during the fourth quarter. Seven Eight Capital LP now owns 1,399 shares of the construction company’s stock valued at $485,000 after purchasing an additional 51 shares during the last quarter. ProShare Advisors LLC boosted its position in Cavco Industries by 3.3% during the first quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock worth $669,000 after purchasing an additional 54 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

CVCO has been the topic of a number of recent research reports. Craig Hallum upped their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a research report on Friday, August 2nd.

Cavco Industries Trading Down 3.9 %

Shares of NASDAQ:CVCO opened at $397.13 on Wednesday. The company has a 50 day moving average of $381.15 and a 200 day moving average of $372.76. The stock has a market cap of $3.29 billion, a P/E ratio of 21.64 and a beta of 1.23. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $426.41.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). The firm had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same quarter last year, the firm earned $5.29 earnings per share. On average, equities analysts forecast that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In related news, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the transaction, the senior vice president now directly owns 1,255 shares in the company, valued at $460,108.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

Cavco Industries Company 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.