Marks Group Wealth Management Inc Trims Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Marks Group Wealth Management Inc decreased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,820 shares of the construction company’s stock after selling 406 shares during the quarter. Marks Group Wealth Management Inc owned about 0.13% of Cavco Industries worth $5,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd acquired a new position in Cavco Industries in the 4th quarter valued at $67,000. CWM LLC grew its stake in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after purchasing an additional 48 shares during the period. DAVENPORT & Co LLC acquired a new stake in Cavco Industries in the 1st quarter valued at about $208,000. GAMMA Investing LLC grew its stake in Cavco Industries by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock valued at $229,000 after acquiring an additional 123 shares during the last quarter. Finally, ClearAlpha Technologies LP acquired a new stake in Cavco Industries in the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

CVCO has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Wedbush restated a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a report on Tuesday, May 27th.

Cavco Industries Trading Up 0.3%

NASDAQ:CVCO opened at $449.84 on Friday. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 21.67 and a beta of 1.15. Cavco Industries, Inc. has a 12-month low of $351.28 and a 12-month high of $549.99. The company’s 50-day moving average is $456.48 and its two-hundred day moving average is $481.01.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.17. The business had revenue of $508.36 million for the quarter, compared to analyst estimates of $504.15 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. On average, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Cavco Industries Company Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.