Granite Investment Partners LLC cut its position in Cavco Industries Inc. (NASDAQ:CVCO) by 24.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,194 shares of the company’s stock after selling 8,393 shares during the period. Granite Investment Partners LLC’s holdings in Cavco Industries were worth $2,595,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. BlackRock Fund Advisors boosted its position in shares of Cavco Industries by 61.5% in the second quarter. BlackRock Fund Advisors now owns 741,413 shares of the company’s stock worth $69,470,000 after buying an additional 282,278 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cavco Industries by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 429,082 shares of the company’s stock worth $40,204,000 after buying an additional 27,656 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cavco Industries by 20.2% in the second quarter. Vanguard Group Inc. now owns 380,731 shares of the company’s stock worth $35,674,000 after buying an additional 64,066 shares during the last quarter. State Street Corp boosted its position in shares of Cavco Industries by 21.8% in the second quarter. State Street Corp now owns 250,415 shares of the company’s stock worth $23,461,000 after buying an additional 44,806 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Cavco Industries by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 232,663 shares of the company’s stock worth $23,047,000 after buying an additional 2,329 shares during the last quarter. 94.88% of the stock is owned by institutional investors and hedge funds.
Shares of Cavco Industries Inc. (NASDAQ:CVCO) traded down 0.94% during trading on Monday, hitting $94.45. 11,574 shares of the company’s stock were exchanged. The company has a market cap of $849.29 million, a P/E ratio of 28.71 and a beta of 1.67. Cavco Industries Inc. has a 12-month low of $70.28 and a 12-month high of $110.67. The company has a 50-day moving average of $93.65 and a 200-day moving average of $96.83.
Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Tuesday, November 8th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. Cavco Industries had a net margin of 4.08% and a return on equity of 8.37%. The firm earned $188.30 million during the quarter, compared to analysts’ expectations of $197.33 million. During the same period in the previous year, the business posted $0.89 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts expect that Cavco Industries Inc. will post $3.55 earnings per share for the current fiscal year.
Separately, Sidoti initiated coverage on shares of Cavco Industries in a research note on Wednesday, September 7th. They issued a “neutral” rating and a $114.00 price objective for the company.
About Cavco Industries
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.