Robeco Institutional Asset Management B.V. Buys New Stake in Cavco Industries, Inc. $CVCO

Robeco Institutional Asset Management B.V. purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,410 shares of the construction company’s stock, valued at approximately $819,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVCO. Salomon & Ludwin LLC bought a new stake in shares of Cavco Industries in the third quarter worth about $31,000. Mather Group LLC. bought a new stake in Cavco Industries in the 3rd quarter worth approximately $63,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Cavco Industries by 74.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,317 shares of the construction company’s stock worth $9,580,000 after acquiring an additional 6,942 shares in the last quarter. Westbourne Investment Advisors Inc. boosted its position in shares of Cavco Industries by 6.9% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 14,100 shares of the construction company’s stock valued at $8,188,000 after acquiring an additional 913 shares during the last quarter. Finally, Sheets Smith Wealth Management grew its holdings in shares of Cavco Industries by 1.4% in the third quarter. Sheets Smith Wealth Management now owns 2,245 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Insider Activity at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the sale, the director directly owned 6,669 shares in the company, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, December 29th. Finally, Zacks Research cut shares of Cavco Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $550.00.

Cavco Industries Trading Up 3.9%

Shares of CVCO opened at $667.70 on Monday. The company’s fifty day simple moving average is $585.63 and its 200-day simple moving average is $530.63. The company has a market cap of $5.21 billion, a P/E ratio of 27.43 and a beta of 1.31. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $671.52.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $6.30 by $0.25. Cavco Industries had a net margin of 9.18% and a return on equity of 19.13%. The firm had revenue of $556.53 million during the quarter, compared to analysts’ expectations of $542.92 million. Analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.