Cavco Industries, Inc. $CVCO Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 216.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,929 shares of the construction company’s stock after acquiring an additional 25,960 shares during the quarter. Renaissance Technologies LLC’s holdings in Cavco Industries were worth $18,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CVCO. UBS Group AG boosted its position in shares of Cavco Industries by 31.5% during the 4th quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock valued at $23,640,000 after acquiring an additional 9,589 shares in the last quarter. Fifth Third Bancorp raised its position in Cavco Industries by 599.0% in the first quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock worth $1,367,000 after purchasing an additional 2,420 shares in the last quarter. M&T Bank Corp bought a new position in Cavco Industries during the fourth quarter worth about $9,501,000. Intech Investment Management LLC boosted its holdings in Cavco Industries by 58.0% during the fourth quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock valued at $3,406,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Pier Capital LLC grew its stake in shares of Cavco Industries by 90.8% in the 4th quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock valued at $7,150,000 after purchasing an additional 5,761 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Stock Down 0.5%

NASDAQ:CVCO opened at $562.40 on Friday. The firm has a market cap of $4.34 billion, a PE ratio of 23.46 and a beta of 1.28. Cavco Industries, Inc. has a 12 month low of $397.38 and a 12 month high of $713.01. The company’s 50-day moving average price is $572.97 and its two-hundred day moving average price is $551.78.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.68 by ($0.25). Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The firm had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. On average, research analysts expect that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the transaction, the chief accounting officer owned 1,105 shares of the company’s stock, valued at approximately $594,213.75. The trade was a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the transaction, the executive vice president directly owned 9,147 shares in the company, valued at approximately $5,716,875. This represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,541 shares of company stock worth $2,121,932 in the last three months. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Cavco Industries

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.