Cavco Industries, Inc. (CVCO) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. lifted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,704 shares of the construction company’s stock after purchasing an additional 318 shares during the period. Schwab Charles Investment Management Inc. owned 0.40% of Cavco Industries worth $4,630,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Cavco Industries by 34.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock valued at $150,000 after buying an additional 329 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Cavco Industries by 78.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,662 shares of the construction company’s stock valued at $215,000 after purchasing an additional 732 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Cavco Industries during the 1st quarter valued at $202,000. Mason Street Advisors LLC grew its position in shares of Cavco Industries by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock valued at $230,000 after purchasing an additional 130 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Cavco Industries during the 1st quarter valued at $267,000. Institutional investors own 92.66% of the company’s stock.
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Cavco Industries, Inc. (CVCO) opened at 152.25 on Monday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 31.40 and a beta of 1.56. Cavco Industries, Inc. has a 52-week low of $88.65 and a 52-week high of $154.50. The stock’s 50 day moving average is $141.86 and its 200-day moving average is $128.02.
Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.20. The company had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. Cavco Industries’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. Equities research analysts anticipate that Cavco Industries, Inc. will post $4.48 EPS for the current fiscal year.
A number of research firms have recently commented on CVCO. BidaskClub upgraded shares of Cavco Industries from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Sidoti upgraded shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research report on Friday, August 25th.
In related news, Director David A. Greenblatt sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $136.68, for a total transaction of $410,040.00. Following the completion of the transaction, the director now directly owns 10,175 shares of the company’s stock, valued at $1,390,719. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.44% of the company’s stock.
Cavco Industries Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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