Robotti Robert Trims Stake in Cavco Industries, Inc. $CVCO

Robotti Robert decreased its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,011 shares of the construction company’s stock after selling 4,151 shares during the quarter. Cavco Industries comprises approximately 3.2% of Robotti Robert’s investment portfolio, making the stock its 7th largest position. Robotti Robert owned approximately 0.41% of Cavco Industries worth $18,590,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVCO. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Cavco Industries by 28.0% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,472 shares of the construction company’s stock worth $2,016,000 after buying an additional 760 shares during the last quarter. Guidance Capital Inc. boosted its position in Cavco Industries by 3.3% during the third quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock valued at $663,000 after acquiring an additional 36 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Cavco Industries by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company’s stock worth $18,616,000 after acquiring an additional 13,694 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Cavco Industries by 15.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 4,365 shares of the construction company’s stock worth $2,535,000 after acquiring an additional 592 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Cavco Industries by 1.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 30,842 shares of the construction company’s stock valued at $17,911,000 after purchasing an additional 447 shares during the period. 95.56% of the stock is owned by institutional investors.

Cavco Industries Trading Down 1.5%

Shares of CVCO stock opened at $580.95 on Thursday. The firm has a fifty day simple moving average of $605.30 and a two-hundred day simple moving average of $569.09. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $713.01. The firm has a market capitalization of $4.51 billion, a PE ratio of 25.24 and a beta of 1.32.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVCO. Zacks Research downgraded Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. Finally, CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $550.00.

Insider Activity at Cavco Industries

In related news, Director David A. Greenblatt bought 413 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were bought at an average price of $463.01 per share, for a total transaction of $191,223.13. Following the completion of the acquisition, the director directly owned 15,989 shares of the company’s stock, valued at $7,403,066.89. This trade represents a 2.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William C. Boor purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were bought at an average price of $495.00 per share, with a total value of $495,000.00. Following the acquisition, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at $23,770,890. This represents a 2.13% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 1,800 shares of company stock valued at $866,592. 1.60% of the stock is owned by corporate insiders.

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.