Rhumbline Advisers Sells 146 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Rhumbline Advisers decreased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,874 shares of the construction company’s stock after selling 146 shares during the period. Rhumbline Advisers’ holdings in Cavco Industries were worth $8,264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital World Investors boosted its holdings in Cavco Industries by 2.9% in the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after acquiring an additional 17,125 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Cavco Industries by 0.8% in the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after acquiring an additional 1,541 shares during the period. Norges Bank bought a new position in shares of Cavco Industries in the fourth quarter worth $21,059,000. Ashford Capital Management Inc. boosted its holdings in shares of Cavco Industries by 0.5% in the first quarter. Ashford Capital Management Inc. now owns 58,180 shares of the construction company’s stock worth $23,217,000 after acquiring an additional 310 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Cavco Industries by 9.0% in the first quarter. Kennedy Capital Management LLC now owns 48,031 shares of the construction company’s stock worth $19,167,000 after acquiring an additional 3,975 shares during the period. Institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVCO shares. Craig Hallum raised their price target on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wedbush reissued an “outperform” rating and set a $425.00 price objective on shares of Cavco Industries in a research note on Friday, August 2nd.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $415.90 on Friday. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 22.66 and a beta of 1.24. Cavco Industries, Inc. has a 52-week low of $233.84 and a 52-week high of $426.41. The stock has a fifty day moving average of $389.89 and a 200 day moving average of $374.45.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The firm had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. During the same period last year, the firm earned $5.29 EPS. Equities analysts forecast that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, SVP Steven K. Like sold 575 shares of Cavco Industries stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares of the company’s stock, valued at $460,108.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.