Principal Financial Group Inc. Boosts Stock Position in Cavco Industries, Inc. $CVCO

Principal Financial Group Inc. boosted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,306 shares of the construction company’s stock after acquiring an additional 1,743 shares during the quarter. Principal Financial Group Inc. owned about 0.69% of Cavco Industries worth $25,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of Cavco Industries by 5.2% during the first quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock worth $9,849,000 after purchasing an additional 934 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cavco Industries by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock worth $2,494,000 after buying an additional 90 shares during the last quarter. United Services Automobile Association purchased a new position in Cavco Industries during the 1st quarter worth $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cavco Industries by 15.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock worth $9,289,000 after acquiring an additional 2,384 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insider Activity

In other news, EVP Allison Aden sold 1,473 shares of Cavco Industries stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the transaction, the executive vice president owned 9,147 shares of the company’s stock, valued at $5,716,875. The trade was a 13.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the sale, the chief accounting officer owned 1,105 shares in the company, valued at $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,541 shares of company stock worth $2,121,932 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, UBS Group assumed coverage on Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $625.00.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $566.97 on Tuesday. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 23.65 and a beta of 1.28. The business’s 50 day simple moving average is $557.14 and its 200-day simple moving average is $554.05. Cavco Industries, Inc. has a 12 month low of $397.38 and a 12 month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, beating the consensus estimate of $5.30 by $0.12. The firm had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. On average, equities analysts anticipate that Cavco Industries, Inc. will post 24.5 earnings per share for the current year.

Cavco Industries Profile

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.