Trivant Custom Portfolio Group LLC, an institutional investor, recently acquired a new position in Cavco Industries, Inc. during the first quarter of this year. The purchase consisted of 853 shares of Cavco’s stock, which were valued at approximately $271,000. This transaction was disclosed in the company’s most recent disclosure with the SEC.
Cavco Industries (NASDAQ:CVCO) is a renowned construction company that primarily operates within the United States. The company specializes in designing, producing, and retailing factory-built homes. It has two main segments: Factory-Built Housing and Financial Services.
However, Cavco Industries recently released its earnings results for the second quarter on August 3rd. Unfortunately, the company reported earnings per share (EPS) of $5.29 for the quarter, falling short of the consensus estimate of $6.76 by $1.47. Furthermore, Cavco Industries recorded quarterly revenue of $475.88 million compared to the estimated revenue of $552.90 million.
Despite these setbacks, Cavco Industries still maintains a net margin of 11.20% and a solid return on equity (ROE) percentage of 23.41%. Looking ahead to the current fiscal year, research analysts are forecasting an EPS of 20.05 for Cavco Industries.
The company’s factory-built homes are marketed under various well-known brands such as Cavco Manufactured Homes, Palm Harbor Homes, Nationwide Homes, Fairmont Homes, Friendship Homes, Chariot Eagle Homes, Destiny Homes, Commodore Homes,
and Solitaire Homes,” among others.
While Trivant Custom Portfolio Group LLC’s acquisition signifies its confidence in Cavco Industries’ long-term potential and market presence within the construction industry, the company’s recent earnings report serves as a reminder that challenges may arise in this sector. It will be interesting to observe Cavco Industries’ future performance and how it adapts to overcome any obstacles it may encounter.
Hedge Funds and Institutional Investors Show Confidence in Cavco Industries with Increased Stake
September 13, 2023 – In recent months, numerous hedge funds and institutional investors have made some notable changes to their holdings of Cavco Industries (CVCO). Vanguard Group Inc., for instance, has increased its stake in the construction company by 4.6% during the first quarter. Vanguard now owns a whopping 789,464 shares of CVCO’s stock valued at a staggering $190,142,000 after acquiring an additional 34,461 shares in the last quarter.
This significant boost in ownership is not unique to Vanguard alone. Dimensional Fund Advisors LP also added to its stake in Cavco Industries during the same quarter, increasing it by 1.3%. They now own 399,103 shares worth approximately $126,808,000 after purchasing an additional 5,015 shares.
State Street Corp demonstrated similar confidence in Cavco Industries by raising its stake by 5.4% during the first quarter. With this modification, State Street Corp now holds around 323,585 shares of CVCO’s stock valued at $102,816,000 after acquiring an additional 16,636 shares.
Furthermore, GW&K Investment Management LLC decided to invest further in Cavco Industries as well. They increased their stake by 1.1% during the same period and currently hold approximately 230,023 shares worth $73,088,000 after obtaining an additional 2,606 shares.
Lastly but not leastly Geode Capital Management LLC took part too and raised its ownership percentage slightly during the fourth quarter. By adding another 2%. Consequently they obtained a total of about 178039 shares valued at approximately $40.281 million
This accumulation of stakes from various hedge funds and institutional investors signifies a high degree of confidence in Cavco Industries’ future prospects within the construction industry. Currently standing at about 95.56%, these holdings show that large financial players recognize CVCO’s value and aim to profit from its potential growth.
On Wednesday, CVCO opened at $271.35, reflecting a solid market capitalization of $2.35 billion. The stock has a price-to-earnings (P/E) ratio of 10.60 and a beta of 1.23, indicating its level of volatility relative to the overall market. The company’s 50-day simple moving average stands at $283.29, while its two-hundred-day simple moving average records $286.64.
Furthermore, it is worth noting that Cavco Industries experienced a 52-week low of $193.91 and reached a high of $318.00 during the same period.
Several equities analysts have recently released their reports on CVCO as well. StockNews.com, for instance, initiated coverage on Cavco Industries in a research note issued on Thursday, August 17th. They gave the stock a “hold” rating based on their analysis.
In addition, Craig Hallum lowered their price target on CVCO shares from $357 to $338 in a research note published on Monday, May 22nd.
Contrarily to most other analyst firms Wedbush raised their target price on shares of Cavco Industries from $410 to $425 in another research note also dated May; this was presented by June
Financial experts recommend considering these recent updates when making investment decisions concerning Cavco Industries’ stock.