Royce & Associates LP cut its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 3.5% in the third quarter, Holdings Channel reports. The institutional investor owned 46,470 shares of the construction company’s stock after selling 1,700 shares during the period. Royce & Associates LP’s holdings in Cavco Industries were worth $11,757,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Cavco Industries by 174.8% during the second quarter. Acadian Asset Management LLC now owns 599 shares of the construction company’s stock valued at $124,000 after buying an additional 381 shares during the last quarter. Fiera Capital Corp bought a new position in Cavco Industries during the second quarter valued at approximately $208,000. Janney Montgomery Scott LLC bought a new position in Cavco Industries during the second quarter valued at approximately $216,000. Janus Henderson Group PLC bought a new position in Cavco Industries during the third quarter valued at approximately $283,000. Finally, Capital Fund Management S.A. bought a new position in Cavco Industries during the second quarter valued at approximately $291,000. 92.14% of the stock is owned by institutional investors.
A number of brokerages recently commented on CVCO. BidaskClub lowered Cavco Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Craig Hallum set a $170.00 price target on Cavco Industries and gave the company a “hold” rating in a research note on Monday, November 12th.
Shares of Cavco Industries stock opened at $150.65 on Thursday. Cavco Industries, Inc. has a 12 month low of $139.50 and a 12 month high of $261.80. The company has a market cap of $1.37 billion, a P/E ratio of 19.05 and a beta of 1.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.28 and a quick ratio of 1.71.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Friday, November 9th. The construction company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.18. Cavco Industries had a return on equity of 15.72% and a net margin of 8.28%. The company had revenue of $241.53 million during the quarter, compared to analyst estimates of $240.53 million. During the same period in the prior year, the company earned $0.67 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis.
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Cavco Industries Profile
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
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