Victory Capital Management Inc. Sells 206 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Victory Capital Management Inc. decreased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 10.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,770 shares of the construction company’s stock after selling 206 shares during the quarter. Victory Capital Management Inc.’s holdings in Cavco Industries were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Stanley Laman Group Ltd. acquired a new position in shares of Cavco Industries during the 4th quarter valued at $565,000. Rhumbline Advisers lifted its holdings in Cavco Industries by 21.3% in the 4th quarter. Rhumbline Advisers now owns 25,265 shares of the construction company’s stock worth $3,294,000 after buying an additional 4,445 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Cavco Industries by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 73,137 shares of the construction company’s stock worth $9,536,000 after buying an additional 557 shares in the last quarter. Norges Bank acquired a new position in Cavco Industries in the 4th quarter worth $10,889,000. Finally, Stifel Financial Corp lifted its holdings in Cavco Industries by 26.7% in the 4th quarter. Stifel Financial Corp now owns 56,435 shares of the construction company’s stock worth $7,388,000 after buying an additional 11,893 shares in the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

CVCO has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Cavco Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 6th. Craig Hallum reiterated a “hold” rating and issued a $153.00 price objective (up previously from $128.00) on shares of Cavco Industries in a report on Tuesday, May 28th.

Shares of NASDAQ:CVCO traded up $1.28 during trading on Friday, reaching $157.54. The company had a trading volume of 122,936 shares, compared to its average volume of 103,782. Cavco Industries, Inc. has a twelve month low of $112.00 and a twelve month high of $261.80. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 20.06 and a beta of 1.66. The business’s fifty day moving average is $144.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.66 and a quick ratio of 1.99.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, May 23rd. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.64. Cavco Industries had a net margin of 7.13% and a return on equity of 13.66%. The business had revenue of $241.10 million for the quarter, compared to analyst estimates of $226.96 million. During the same quarter in the previous year, the business earned $2.40 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year.

About Cavco Industries

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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