Amalgamated Bank cut its position in Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 5.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,189 shares of the construction company's stock after selling 235 shares during the quarter. Amalgamated Bank's holdings in Cavco Industries were worth $1,009,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gibson Wealth Advisors LLC acquired a new position in Cavco Industries during the 4th quarter worth approximately $64,000. US Bancorp DE increased its position in Cavco Industries by 25.2% during the 1st quarter. US Bancorp DE now owns 388 shares of the construction company's stock worth $94,000 after purchasing an additional 78 shares in the last quarter. Zebra Capital Management LLC acquired a new position in Cavco Industries during the 1st quarter worth approximately $209,000. Systematic Alpha Investments LLC acquired a new position in Cavco Industries during the 1st quarter worth approximately $217,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Cavco Industries during the 1st quarter worth approximately $217,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.
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Shares of NASDAQ CVCO opened at $214.31 on Thursday. The firm has a 50 day moving average price of $242.78 and a two-hundred day moving average price of $233.82. Cavco Industries, Inc. has a 52-week low of $179.47 and a 52-week high of $327.24. The stock has a market cap of $1.91 billion, a P/E ratio of 8.48 and a beta of 1.16.
Cavco Industries (NASDAQ:CVCO – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The construction company reported $6.63 EPS for the quarter, beating analysts' consensus estimates of $3.95 by $2.68. Cavco Industries had a net margin of 12.22% and a return on equity of 24.87%. The company had revenue of $588.34 million for the quarter, compared to analyst estimates of $402.00 million. Analysts predict that Cavco Industries, Inc. will post 24.05 earnings per share for the current fiscal year.Analysts Set New Price Targets
A number of equities analysts recently issued reports on CVCO shares. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research report on Friday, July 1st. Craig Hallum upped their price target on shares of Cavco Industries to $335.00 in a research report on Monday, August 15th. Finally, Wedbush upgraded shares of Cavco Industries from a "neutral" rating to an "outperform" rating and upped their price target for the company from $315.00 to $385.00 in a research report on Friday, August 5th.
Cavco Industries Profile
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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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