Pillsbury Lake Capital LLC Invests $11.53 Billion in Cavco Industries, Inc. $CVCO

Pillsbury Lake Capital LLC acquired a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the second quarter, Holdings Channel reports. The firm acquired 18,772 shares of the construction company’s stock, valued at approximately $11,533,141,000. Cavco Industries makes up approximately 3.2% of Pillsbury Lake Capital LLC’s portfolio, making the stock its 11th biggest holding.

Several other large investors also recently added to or reduced their stakes in CVCO. Silvant Capital Management LLC purchased a new stake in shares of Cavco Industries in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC purchased a new position in shares of Cavco Industries during the second quarter worth about $28,000. Allworth Financial LP bought a new position in shares of Cavco Industries in the second quarter worth approximately $44,000. Aster Capital Management DIFC Ltd bought a new position in shares of Cavco Industries in the fourth quarter worth approximately $46,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Cavco Industries in the fourth quarter valued at approximately $50,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 1.8%

Shares of CVCO stock opened at $577.36 on Thursday. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 25.12 and a beta of 1.29. The stock has a fifty day moving average of $583.42 and a 200 day moving average of $546.42. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The company had revenue of $609.96 million during the quarter, compared to the consensus estimate of $590.54 million. Equities research analysts anticipate that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Friday, August 21st. Zelman & Associates downgraded Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. UBS Group initiated coverage on shares of Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective for the company. Finally, Zacks Research cut shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $700.00.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the sale, the director directly owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. The trade was a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Allison Aden sold 1,473 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $5,716,875. This represents a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,553 shares of company stock worth $2,159,368 over the last 90 days. 1.70% of the stock is owned by company insiders.

Cavco Industries Company 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.