Cavco Industries, Inc. $CVCO Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 19.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,951 shares of the construction company’s stock after purchasing an additional 791 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Cavco Industries worth $2,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CVCO. CWM LLC grew its holdings in shares of Cavco Industries by 44.0% in the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after acquiring an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cavco Industries by 2,850.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock worth $92,000 after acquiring an additional 171 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Cavco Industries in the 1st quarter worth approximately $112,000. DAVENPORT & Co LLC acquired a new stake in shares of Cavco Industries in the 1st quarter worth approximately $208,000. Finally, GAMMA Investing LLC grew its holdings in shares of Cavco Industries by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock worth $229,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insiders Place Their Bets

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the transaction, the director owned 3,126 shares of the company’s stock, valued at $1,623,331.80. This represents a 44.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 300 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the transaction, the chief accounting officer directly owned 774 shares in the company, valued at approximately $410,568.30. This represents a 27.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock valued at $2,820,884 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVCO has been the topic of a number of research reports. Wedbush restated a “neutral” rating and issued a $550.00 price target on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen cut Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Cavco Industries presently has an average rating of “Moderate Buy” and an average target price of $522.50.

Cavco Industries Stock Performance

CVCO stock opened at $545.36 on Tuesday. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $568.97. The stock’s 50 day moving average price is $475.74 and its 200 day moving average price is $477.34. The firm has a market cap of $4.32 billion, a P/E ratio of 23.64 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results 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. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The firm had revenue of $556.86 million for the quarter, compared to analyst estimates of $524.97 million. On average, research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share 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.