Mackenzie Financial Corp Boosts Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Mackenzie Financial Corp lifted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 112.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,164 shares of the construction company’s stock after acquiring an additional 616 shares during the period. Mackenzie Financial Corp’s holdings in Cavco Industries were worth $605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stephens Inc. AR raised its stake in shares of Cavco Industries by 3.8% during the first quarter. Stephens Inc. AR now owns 629 shares of the construction company’s stock worth $327,000 after acquiring an additional 23 shares in the last quarter. State of Wyoming grew its holdings in shares of Cavco Industries by 0.8% during the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company’s stock valued at $1,368,000 after purchasing an additional 24 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Cavco Industries by 3.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 866 shares of the construction company’s stock worth $386,000 after purchasing an additional 30 shares during the period. Ancora Advisors LLC raised its position in Cavco Industries by 0.4% in the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company’s stock worth $4,494,000 after purchasing an additional 40 shares during the period. Finally, Arizona State Retirement System lifted its stake in Cavco Industries by 1.9% in the first quarter. Arizona State Retirement System now owns 2,197 shares of the construction company’s stock worth $1,142,000 after purchasing an additional 41 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday. Wall Street Zen lowered Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th.

Cavco Industries Stock Up 1.0%

NASDAQ:CVCO opened at $450.70 on Thursday. The firm has a market capitalization of $3.57 billion, a P/E ratio of 19.54 and a beta of 1.15. The company has a fifty day moving average of $427.11 and a 200 day moving average of $477.76. Cavco Industries, Inc. has a 52 week low of $359.26 and a 52 week high of $549.99.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.81 by $0.61. The firm had revenue of $556.86 million for the quarter, compared to analysts’ expectations of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. As a group, analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

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.