Segall Bryant & Hamill LLC Buys Shares of 18,216 Cavco Industries, Inc. $CVCO

Segall Bryant & Hamill LLC bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO) in the 3rd quarter, Holdings Channel.com reports. The fund bought 18,216 shares of the construction company’s stock, valued at approximately $10,579,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in Cavco Industries by 282.0% in the third quarter. American Century Companies Inc. now owns 30,062 shares of the construction company’s stock worth $17,458,000 after purchasing an additional 22,193 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in Cavco Industries by 83.8% during the third quarter. Rafferty Asset Management LLC now owns 11,951 shares of the construction company’s stock valued at $6,940,000 after buying an additional 5,448 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Cavco Industries by 6.8% in the third quarter. Handelsbanken Fonder AB now owns 81,786 shares of the construction company’s stock worth $47,496,000 after buying an additional 5,200 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its stake in shares of Cavco Industries by 34.6% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 38,777 shares of the construction company’s stock worth $22,519,000 after acquiring an additional 9,961 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Cavco Industries by 28.0% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,472 shares of the construction company’s stock valued at $2,016,000 after acquiring an additional 760 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Insider Activity at Cavco Industries

In other news, Director Steven W. Moster bought 300 shares of Cavco Industries stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost 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 in the company, valued at $1,357,740.48. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Greenblatt purchased 413 shares of the stock in a transaction on Tuesday, February 3rd. The stock was acquired at an average cost of $463.01 per share, for a total transaction of $191,223.13. Following the acquisition, the director directly owned 15,989 shares in the company, valued at approximately $7,403,066.89. This trade represents a 2.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 1,800 shares of company stock worth $866,592. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $579.70 on Thursday. The company has a market cap of $4.50 billion, a PE ratio of 25.18 and a beta of 1.28. The firm has a fifty day moving average price of $601.95 and a two-hundred day moving average price of $572.42. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its earnings results 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 firm had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%. Analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

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.