Cavco Industries, Inc. $CVCO Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,737 shares of the construction company’s stock after selling 24,729 shares during the quarter. Dimensional Fund Advisors LP owned about 2.64% of Cavco Industries worth $119,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new position in Cavco Industries during the 3rd quarter worth $31,000. Osaic Holdings Inc. boosted its holdings in shares of Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after acquiring an additional 65 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Cavco Industries by 1,814.3% during the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after acquiring an additional 127 shares during the period. Mather Group LLC. acquired a new position in shares of Cavco Industries during the third quarter worth about $63,000. Finally, Exchange Traded Concepts LLC purchased a new position in Cavco Industries during the third quarter worth about $86,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Trading Down 2.4%

Shares of CVCO opened at $509.12 on Thursday. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $713.01. The firm has a market capitalization of $3.95 billion, a P/E ratio of 22.12 and a beta of 1.28. The firm’s 50-day moving average is $595.17 and its two-hundred day moving average is $573.76.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The company had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. Analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVCO shares. Weiss Ratings lowered Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. CJS Securities raised Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $550.00.

Insider Activity at Cavco Industries

In other news, CEO William C. Boor acquired 1,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average cost of $495.00 per share, with a total value of $495,000.00. Following the completion of the acquisition, the chief executive officer owned 48,022 shares in the company, valued at $23,770,890. This trade represents a 2.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven W. Moster bought 300 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were purchased at an average price of $456.23 per share, for a total transaction of $136,869.00. Following the completion of the transaction, the director owned 2,976 shares of the company’s stock, valued at $1,357,740.48. This represents a 11.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 1,800 shares of company stock valued at $866,592 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

About Cavco Industries

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.