Raymond James & Associates Lowers Stake in Cavco Industries, Inc. (CVCO)

Raymond James & Associates trimmed its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,897 shares of the construction company’s stock after selling 254 shares during the quarter. Raymond James & Associates owned about 0.11% of Cavco Industries worth $1,290,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its holdings in shares of Cavco Industries by 38.0% during the third quarter. Vanguard Group Inc now owns 681,115 shares of the construction company’s stock worth $172,322,000 after buying an additional 187,517 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cavco Industries by 38.0% during the third quarter. Vanguard Group Inc. now owns 681,115 shares of the construction company’s stock worth $172,322,000 after buying an additional 187,517 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Cavco Industries by 95.8% during the third quarter. Teachers Advisors LLC now owns 84,939 shares of the construction company’s stock worth $21,490,000 after buying an additional 41,569 shares in the last quarter. Morgan Stanley raised its stake in Cavco Industries by 107.9% in the third quarter. Morgan Stanley now owns 63,786 shares of the construction company’s stock valued at $16,138,000 after purchasing an additional 33,102 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Cavco Industries in the fourth quarter valued at about $3,229,000. 94.10% of the stock is owned by hedge funds and other institutional investors.

CVCO stock traded up $0.89 during midday trading on Friday, reaching $127.99. The company had a trading volume of 52,898 shares, compared to its average volume of 97,926. The company has a market cap of $1.16 billion, a PE ratio of 16.77 and a beta of 1.95. Cavco Industries, Inc. has a 1-year low of $112.00 and a 1-year high of $261.80. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.03.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Monday, February 4th. The construction company reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.01). The business had revenue of $233.70 million for the quarter, compared to analyst estimates of $238.05 million. Cavco Industries had a return on equity of 14.62% and a net margin of 7.34%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 EPS.

A number of research analysts recently commented on the company. Craig Hallum dropped their price target on Cavco Industries from $170.00 to $128.00 and set an “in-line” rating for the company in a research note on Wednesday, February 6th. BidaskClub raised Cavco Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st.

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Cavco Industries Company 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 Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.

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Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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