Alliancebernstein L.P. Purchases 230 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Alliancebernstein L.P. lifted its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,140 shares of the construction company’s stock after acquiring an additional 230 shares during the quarter. Alliancebernstein L.P.’s holdings in Cavco Industries were worth $2,965,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Stanley Laman Group Ltd. grew its stake in Cavco Industries by 20.1% in the first quarter. Stanley Laman Group Ltd. now owns 6,604 shares of the construction company’s stock valued at $1,490,000 after purchasing an additional 1,104 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Cavco Industries by 13.7% in the first quarter. Envestnet Asset Management Inc. now owns 18,746 shares of the construction company’s stock valued at $4,229,000 after purchasing an additional 2,254 shares during the last quarter. Victory Capital Management Inc. grew its stake in Cavco Industries by 136.7% in the first quarter. Victory Capital Management Inc. now owns 24,194 shares of the construction company’s stock valued at $5,459,000 after purchasing an additional 13,971 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Cavco Industries by 7.6% in the first quarter. Handelsbanken Fonder AB now owns 141,986 shares of the construction company’s stock valued at $32,033,000 after purchasing an additional 10,000 shares during the last quarter. Finally, US Bancorp DE grew its stake in Cavco Industries by 19.4% in the first quarter. US Bancorp DE now owns 296 shares of the construction company’s stock valued at $67,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.

Separately, Zacks Investment Research upgraded Cavco Industries from a “hold” rating to a “buy” rating and set a $248.00 target price on the stock in a research note on Thursday.

Shares of CVCO stock opened at $215.52 on Friday. Cavco Industries, Inc. has a fifty-two week low of $162.88 and a fifty-two week high of $242.06. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 26.12 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.75 and a quick ratio of 2.20. The business’s 50-day simple moving average is $217.57.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Tuesday, May 25th. The construction company reported $2.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.79. Cavco Industries had a return on equity of 11.75% and a net margin of 6.92%. The business had revenue of $306.50 million for the quarter, compared to analyst estimates of $306.60 million. As a group, equities analysts expect that Cavco Industries, Inc. will post 9.31 earnings per share for the current year.

Cavco Industries 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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