Credit Suisse AG decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,738 shares of the construction company’s stock after selling 768 shares during the period. Credit Suisse AG owned about 0.10% of Cavco Industries worth $1,017,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its position in shares of Cavco Industries by 179,350.7% in the first quarter. BlackRock Inc. now owns 1,178,991 shares of the construction company’s stock valued at $137,234,000 after buying an additional 1,178,334 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cavco Industries by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 492,335 shares of the construction company’s stock valued at $57,308,000 after buying an additional 8,851 shares during the period. Vanguard Group Inc. increased its position in shares of Cavco Industries by 5.7% in the first quarter. Vanguard Group Inc. now owns 441,885 shares of the construction company’s stock valued at $51,436,000 after buying an additional 23,796 shares during the period. FMR LLC increased its position in shares of Cavco Industries by 227.6% in the first quarter. FMR LLC now owns 329,968 shares of the construction company’s stock valued at $38,408,000 after buying an additional 229,239 shares during the period. Finally, Schroder Investment Management Group increased its position in shares of Cavco Industries by 2.2% in the first quarter. Schroder Investment Management Group now owns 258,869 shares of the construction company’s stock valued at $30,262,000 after buying an additional 5,594 shares during the period. Institutional investors own 97.07% of the company’s stock.
Shares of Cavco Industries, Inc. (NASDAQ CVCO) traded down 0.82% on Tuesday, reaching $126.50. The company’s stock had a trading volume of 3,950 shares. Cavco Industries, Inc. has a 1-year low of $88.65 and a 1-year high of $143.10. The stock has a 50-day moving average of $130.84 and a 200 day moving average of $120.97. The stock has a market capitalization of $1.14 billion, a PE ratio of 26.09 and a beta of 1.53.
Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.20. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. The business had revenue of $206.80 million for the quarter, compared to analyst estimates of $200.70 million. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Cavco Industries, Inc. will post $4.80 EPS for the current year.
WARNING: This news story was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://stocknewstimes.com/2017/08/22/credit-suisse-ag-lowers-stake-in-cavco-industries-inc-cvco.html.
Separately, BidaskClub upgraded Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday, June 16th.
In related news, Director William C. Boor sold 3,000 shares of Cavco Industries stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total transaction of $391,770.00. Following the completion of the transaction, the director now directly owns 6,397 shares of the company’s stock, valued at approximately $835,384.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.44% of the company’s stock.
Cavco Industries Company Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
Receive News & Ratings for Cavco Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavco Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
