Franklin Resources Inc. Has $5.31 Million Stock Holdings in Cavco Industries, Inc. $CVCO

Franklin Resources Inc. grew its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 11.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,218 shares of the construction company’s stock after acquiring an additional 1,285 shares during the quarter. Franklin Resources Inc. owned 0.15% of Cavco Industries worth $5,308,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Boston Partners lifted its position in shares of Cavco Industries by 5,371.3% in the second quarter. Boston Partners now owns 201,947 shares of the construction company’s stock worth $87,847,000 after purchasing an additional 198,256 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Cavco Industries by 64.0% in the 1st quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock valued at $80,940,000 after buying an additional 60,779 shares during the last quarter. Vanguard Group Inc. lifted its position in Cavco Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock worth $402,631,000 after buying an additional 37,249 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Cavco Industries by 628.4% during the 1st quarter. Millennium Management LLC now owns 39,721 shares of the construction company’s stock worth $20,640,000 after buying an additional 34,268 shares during the last quarter. Finally, Broad Bay Capital Management LP grew its holdings in shares of Cavco Industries by 18.3% in the 1st quarter. Broad Bay Capital Management LP now owns 178,189 shares of the construction company’s stock valued at $92,592,000 after acquiring an additional 27,503 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Insider Activity at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the transaction, the director directly owned 6,669 shares of the company’s stock, valued at $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVCO has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a report on Monday, November 24th. Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Finally, Wedbush reissued a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $550.00.

Cavco Industries Stock Down 1.9%

CVCO opened at $584.22 on Tuesday. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $613.77. The business has a 50 day moving average of $556.70 and a 200-day moving average of $498.22. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 25.32 and a beta of 1.21.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, topping the consensus estimate of $6.30 by $0.25. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The company had revenue of $556.53 million during the quarter, compared to the consensus estimate of $542.92 million. As a group, analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

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.