Swiss National Bank Sells 700 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Swiss National Bank lessened its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,200 shares of the construction company’s stock after selling 700 shares during the period. Swiss National Bank’s holdings in Cavco Industries were worth $4,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of Cavco Industries by 19.4% during the 1st quarter. US Bancorp DE now owns 296 shares of the construction company’s stock worth $67,000 after buying an additional 48 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Cavco Industries by 136.7% during the 1st quarter. Victory Capital Management Inc. now owns 24,194 shares of the construction company’s stock worth $5,459,000 after buying an additional 13,971 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Cavco Industries by 13.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,746 shares of the construction company’s stock worth $4,229,000 after buying an additional 2,254 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Cavco Industries by 1.8% during the 1st quarter. Alliancebernstein L.P. now owns 13,140 shares of the construction company’s stock worth $2,965,000 after buying an additional 230 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Cavco Industries by 1.3% during the 1st quarter. Rhumbline Advisers now owns 26,912 shares of the construction company’s stock worth $6,072,000 after buying an additional 357 shares during the period. 91.57% of the stock is owned by institutional investors.

Several analysts have weighed in on the stock. Craig Hallum lifted their price objective on shares of Cavco Industries from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, August 9th. Zacks Investment Research upgraded shares of Cavco Industries from a “hold” rating to a “strong-buy” rating and set a $290.00 price objective for the company in a research note on Wednesday, August 11th.

Shares of NASDAQ:CVCO opened at $246.38 on Tuesday. The firm has a 50 day moving average of $242.73 and a 200-day moving average of $227.84. The stock has a market capitalization of $2.26 billion, a PE ratio of 26.29 and a beta of 1.13. The company has a current ratio of 2.76, a quick ratio of 2.13 and a debt-to-equity ratio of 0.01. Cavco Industries, Inc. has a 12 month low of $162.88 and a 12 month high of $266.40.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, August 5th. The construction company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.11 by $0.81. Cavco Industries had a net margin of 7.35% and a return on equity of 12.96%. On average, research analysts predict that Cavco Industries, Inc. will post 11.7 EPS for the current fiscal year.

About Cavco Industries

Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.

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

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