Envestnet Asset Management Inc. Decreases Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Envestnet Asset Management Inc. lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,322 shares of the construction company’s stock after selling 35 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.40% of Cavco Industries worth $16,795,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVCO. Harvest Fund Management Co. Ltd acquired a new position in shares of Cavco Industries in the 4th quarter valued at $67,000. DAVENPORT & Co LLC acquired a new position in shares of Cavco Industries during the 1st quarter worth $208,000. GAMMA Investing LLC grew its stake in Cavco Industries by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock valued at $229,000 after acquiring an additional 123 shares during the last quarter. ClearAlpha Technologies LP acquired a new stake in Cavco Industries in the 4th quarter valued at about $204,000. Finally, New Age Alpha Advisors LLC purchased a new position in Cavco Industries in the 4th quarter valued at about $215,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 0.3%

Cavco Industries stock opened at $429.02 on Friday. The stock has a market cap of $3.47 billion, a P/E ratio of 20.67 and a beta of 1.15. The stock has a 50 day moving average of $449.90 and a 200-day moving average of $480.47. Cavco Industries, Inc. has a 52 week low of $351.28 and a 52 week high of $549.99.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.17. The company had revenue of $508.36 million for the quarter, compared to analysts’ expectations of $504.15 million. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. As a group, equities analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on CVCO. Wedbush reaffirmed a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th.

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.