1,190 Shares in Cavco Industries, Inc. $CVCO Bought by AIA Group Ltd

AIA Group Ltd purchased a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,190 shares of the construction company’s stock, valued at approximately $691,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Cavco Industries by 5.2% during the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock worth $9,849,000 after acquiring an additional 934 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cavco Industries by 1.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after purchasing an additional 90 shares during the period. United Services Automobile Association purchased a new stake in shares of Cavco Industries in the first quarter valued at about $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cavco Industries by 15.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock worth $9,289,000 after buying an additional 2,384 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Cavco Industries by 7.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,057 shares of the construction company’s stock valued at $894,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 2.2%

Shares of Cavco Industries stock opened at $460.16 on Friday. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $713.01. The business has a fifty day simple moving average of $577.60 and a 200-day simple moving average of $571.61. The stock has a market cap of $3.57 billion, a PE ratio of 19.99 and a beta of 1.28.

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

Insider Activity at Cavco Industries

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

Wall Street Analyst Weigh In

A number of research firms have commented on CVCO. Zacks Research downgraded Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings downgraded shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $550.00.

Cavco Industries 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.