M&T Bank Corp Has $242,000 Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

M&T Bank Corp trimmed its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 6.1% in the first quarter, HoldingsChannel.com reports. The firm owned 464 shares of the construction company’s stock after selling 30 shares during the period. M&T Bank Corp’s holdings in Cavco Industries were worth $242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in Cavco Industries in the fourth quarter valued at $67,000. DAVENPORT & Co LLC acquired a new stake in Cavco Industries during the 1st quarter worth about $208,000. GAMMA Investing LLC grew its holdings in Cavco Industries by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock worth $229,000 after acquiring an additional 123 shares during the period. ClearAlpha Technologies LP acquired a new stake in Cavco Industries during the 4th quarter worth about $204,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Cavco Industries during the 4th quarter worth about $215,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Price Performance

Shares of CVCO opened at $420.73 on Friday. The stock has a 50-day moving average of $447.83 and a 200-day moving average of $480.29. The company has a market cap of $3.40 billion, a PE ratio of 20.27 and a beta of 1.15. Cavco Industries, Inc. has a one year low of $351.28 and a one year high of $549.99.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating the consensus estimate of $5.23 by $0.17. The company had revenue of $508.36 million during the quarter, compared to the consensus estimate of $504.15 million. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. Analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVCO. Wedbush reiterated a “neutral” rating and set a $550.00 price target on shares of Cavco Industries in a report on Tuesday, May 27th. Wall Street Zen downgraded Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.