M&T Bank Corp Has $242,000 Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

M&T Bank Corp reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 464 shares of the construction company’s stock after selling 30 shares during the period. M&T Bank Corp’s holdings in Cavco Industries were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new stake in Cavco Industries during the fourth quarter worth $67,000. DAVENPORT & Co LLC bought a new stake in Cavco Industries during the first quarter worth $208,000. GAMMA Investing LLC lifted its stake in Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock worth $229,000 after purchasing an additional 123 shares during the last quarter. ClearAlpha Technologies LP bought a new stake in Cavco Industries during the fourth quarter worth $204,000. Finally, New Age Alpha Advisors LLC bought a new stake in Cavco Industries during the fourth quarter worth $215,000. 95.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVCO. Wedbush restated a “neutral” rating and set a $550.00 target price on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen cut Cavco Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th.

Cavco Industries Stock Performance

Shares of CVCO opened at $420.73 on Friday. Cavco Industries, Inc. has a 52 week low of $351.28 and a 52 week high of $549.99. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 20.27 and a beta of 1.15. The stock has a fifty day moving average of $447.83 and a 200-day moving average of $480.29.

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

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.