Voya Investment Management LLC decreased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 70.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,197 shares of the construction company’s stock after selling 9,982 shares during the period. Voya Investment Management LLC’s holdings in Cavco Industries were worth $544,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Parametric Portfolio Associates LLC boosted its position in Cavco Industries by 19.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 3,228 shares of the construction company’s stock worth $376,000 after purchasing an additional 517 shares in the last quarter. Prudential Financial Inc. boosted its position in Cavco Industries by 16.8% in the 1st quarter. Prudential Financial Inc. now owns 17,271 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,490 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Cavco Industries by 8.5% in the 1st quarter. OppenheimerFunds Inc. now owns 4,947 shares of the construction company’s stock worth $576,000 after purchasing an additional 388 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cavco Industries by 6.6% in the 1st quarter. Principal Financial Group Inc. now owns 71,763 shares of the construction company’s stock worth $8,353,000 after purchasing an additional 4,425 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Cavco Industries by 227.6% during the 1st quarter. FMR LLC now owns 329,968 shares of the construction company’s stock worth $38,408,000 after buying an additional 229,239 shares during the period. Institutional investors and hedge funds own 91.73% of the company’s stock.
In related news, Director David A. Greenblatt sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was 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 in the company, valued at approximately $1,390,719. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.44% of the company’s stock.
CVCO has been the subject of several recent research reports. Sidoti raised Cavco Industries from a “neutral” rating to a “buy” rating in a research note on Friday, August 25th. BidaskClub cut Cavco Industries from a “hold” rating to a “sell” rating in a report on Monday, July 24th.
Cavco Industries, Inc. (CVCO) opened at $144.55 on Tuesday. The firm has a market capitalization of $1,312.16, a price-to-earnings ratio of 32.37 and a beta of 1.62. The company has a current ratio of 2.25, a quick ratio of 1.66 and a debt-to-equity ratio of 0.13. Cavco Industries, Inc. has a twelve month low of $88.65 and a twelve month high of $157.80.
Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Tuesday, November 7th. The construction company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.13). Cavco Industries had a return on equity of 10.30% and a net margin of 5.09%. The business had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $190.87 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year.
About Cavco Industries
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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