Sheets Smith Wealth Management Raises Stake in Cavco Industries, Inc. (NASDAQ:CVCO)


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Sheets Smith Wealth Management boosted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,020 shares of the construction company’s stock after acquiring an additional 55 shares during the period. Sheets Smith Wealth Management’s holdings in Cavco Industries were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brinker Capital Investments LLC purchased a new position in Cavco Industries during the 3rd quarter valued at about $1,205,000. Paloma Partners Management Co lifted its position in Cavco Industries by 43.5% during the 3rd quarter. Paloma Partners Management Co now owns 2,037 shares of the construction company’s stock valued at $367,000 after acquiring an additional 617 shares during the period. California State Teachers Retirement System lifted its position in Cavco Industries by 6.2% during the 3rd quarter. California State Teachers Retirement System now owns 13,905 shares of the construction company’s stock valued at $2,507,000 after acquiring an additional 812 shares during the period. Jane Street Group LLC lifted its position in Cavco Industries by 479.0% during the 3rd quarter. Jane Street Group LLC now owns 6,051 shares of the construction company’s stock valued at $1,091,000 after acquiring an additional 5,006 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in Cavco Industries by 41.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,947 shares of the construction company’s stock valued at $712,000 after acquiring an additional 1,158 shares during the period. 90.05% of the stock is owned by institutional investors.

CVCO opened at $183.14 on Thursday. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $182.58 and a 200-day moving average price of $187.37. Cavco Industries, Inc. has a twelve month low of $99.58 and a twelve month high of $236.10. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 26.31 and a beta of 1.20.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.43. Cavco Industries had a net margin of 6.20% and a return on equity of 10.48%. The firm had revenue of $257.98 million during the quarter, compared to analysts’ expectations of $228.50 million. As a group, analysts expect that Cavco Industries, Inc. will post 7.07 earnings per share for the current year.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Monday, January 4th. BidaskClub raised shares of Cavco Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, January 9th. Finally, Craig Hallum lifted their target price on shares of Cavco Industries from $218.00 to $234.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $215.00.

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, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle, and Destiny brands.

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

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