Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,991 shares of the construction company’s stock after selling 96 shares during the period. Yousif Capital Management LLC’s holdings in Cavco Industries were worth $1,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVCO. Principal Financial Group Inc. increased its position in Cavco Industries by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 42,123 shares of the construction company’s stock worth $18,797,000 after purchasing an additional 790 shares during the last quarter. Truist Financial Corp increased its position in shares of Cavco Industries by 0.8% during the fourth quarter. Truist Financial Corp now owns 12,293 shares of the construction company’s stock valued at $5,486,000 after acquiring an additional 96 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Cavco Industries by 10.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 4,565 shares of the construction company’s stock valued at $2,037,000 after acquiring an additional 436 shares during the last quarter. Robeco Schweiz AG increased its position in shares of Cavco Industries by 13.2% during the fourth quarter. Robeco Schweiz AG now owns 23,200 shares of the construction company’s stock valued at $10,353,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Cavco Industries by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,497 shares of the construction company’s stock valued at $2,007,000 after acquiring an additional 131 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Price Performance

Shares of CVCO opened at $406.30 on Tuesday. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $549.99. The stock has a market cap of $3.26 billion, a PE ratio of 20.00 and a beta of 1.16. The firm has a 50-day simple moving average of $475.97 and a two-hundred day simple moving average of $487.60.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating the consensus estimate of $5.23 by $0.17. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. The business had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. As a group, sell-side analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVCO shares. Wall Street Zen cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Wedbush reiterated a “neutral” rating and set a $550.00 price target on shares of Cavco Industries in a research report on Tuesday, May 27th.

About Cavco Industries

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.