Mutual of America Capital Management LLC raised its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 5.2% in the first quarter, Holdings Channel.com reports. The firm owned 1,227 shares of the construction company’s stock after buying an additional 61 shares during the period. Mutual of America Capital Management LLC’s holdings in Cavco Industries were worth $296,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC purchased a new position in shares of Cavco Industries during the 4th quarter valued at approximately $35,000. Gibson Wealth Advisors LLC bought a new position in Cavco Industries during the 4th quarter valued at $64,000. USA Financial Portformulas Corp acquired a new position in Cavco Industries during the 4th quarter worth $83,000. CIBC Private Wealth Group LLC bought a new stake in shares of Cavco Industries in the 4th quarter worth about $203,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Cavco Industries in the 4th quarter valued at about $211,000. 92.58% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently weighed in on CVCO shares. Craig Hallum lowered their price objective on Cavco Industries from $340.00 to $322.00 and set a “buy” rating for the company in a report on Tuesday, May 31st. Wedbush reissued a “neutral” rating and set a $315.00 price target on shares of Cavco Industries in a research report on Wednesday, June 1st. Finally, StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Friday, July 1st.
Cavco Industries Stock Up 1.7 %
Shares of NASDAQ:CVCO opened at $262.10 on Tuesday. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 12.28 and a beta of 1.14. Cavco Industries, Inc. has a 1-year low of $179.47 and a 1-year high of $327.24. The company’s fifty day moving average is $214.77 and its two-hundred day moving average is $242.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.70 and a current ratio of 2.53.
Cavco Industries (NASDAQ:CVCO – Get Rating) last posted its earnings results on Thursday, May 26th. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.91 by $0.89. Cavco Industries had a return on equity of 21.87% and a net margin of 12.15%. The company had revenue of $505.48 million for the quarter, compared to analysts’ expectations of $426.90 million. During the same period last year, the business posted $2.71 earnings per share. Equities analysts anticipate that Cavco Industries, Inc. will post 18.61 EPS for the current year.
Cavco Industries Profile
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands.
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