KLP Kapitalforvaltning AS Increases Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

KLP Kapitalforvaltning AS increased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 33.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the construction company’s stock after acquiring an additional 500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Cavco Industries were worth $1,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC increased its stake in Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company’s stock valued at $82,000 after purchasing an additional 48 shares during the period. DAVENPORT & Co LLC purchased a new position in shares of Cavco Industries during the first quarter worth about $208,000. GAMMA Investing LLC grew its holdings in shares of Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock worth $229,000 after buying an additional 123 shares during the last quarter. ClearAlpha Technologies LP acquired a new position in Cavco Industries in the 4th quarter valued at about $204,000. Finally, SkyOak Wealth LLC purchased a new stake in Cavco Industries during the 1st quarter valued at approximately $246,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 0.7%

Shares of NASDAQ:CVCO opened at $414.52 on Tuesday. Cavco Industries, Inc. has a 52 week low of $351.28 and a 52 week high of $549.99. The company has a 50-day moving average price of $434.98 and a 200 day moving average price of $479.76. The company has a market cap of $3.35 billion, a P/E ratio of 19.97 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.17. The business 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 year.

Wall Street Analyst Weigh In

CVCO has been the topic of several analyst reports. Wedbush reiterated a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a research 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.