Bessemer Group Inc. Raises Position in Cavco Industries, Inc. $CVCO

Bessemer Group Inc. lifted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,878 shares of the construction company’s stock after purchasing an additional 2,008 shares during the quarter. Bessemer Group Inc. owned about 0.77% of Cavco Industries worth $28,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its position in Cavco Industries by 852,093.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock valued at $1,062,226,000 after buying an additional 1,797,917 shares in the last quarter. Boston Partners boosted its holdings in Cavco Industries by 82.8% in the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after acquiring an additional 167,230 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cavco Industries by 53.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock worth $126,166,000 after acquiring an additional 74,542 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cavco Industries by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company’s stock worth $43,806,000 after acquiring an additional 40,832 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of Cavco Industries during the fourth quarter worth about $21,903,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVCO. UBS Group started coverage on shares of Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective for the company. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $625.00.

Cavco Industries Stock Performance

Shares of CVCO stock opened at $566.22 on Friday. Cavco Industries, Inc. has a fifty-two week low of $397.38 and a fifty-two week high of $713.01. The firm has a market capitalization of $4.37 billion, a PE ratio of 23.62 and a beta of 1.28. The stock’s 50-day simple moving average is $555.42 and its 200-day simple moving average is $554.61.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. The firm had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Sell-side analysts forecast that Cavco Industries, Inc. will post 24.5 earnings per share for the current year.

Insider Activity

In related news, CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the transaction, the chief accounting officer owned 1,105 shares of the company’s stock, valued at $594,213.75. This trade represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the transaction, the director owned 6,169 shares of the company’s stock, valued at $3,632,060.44. This represents a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,541 shares of company stock valued at $2,121,932 in the last ninety days. Insiders own 1.70% 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.