Punch & Associates Investment Management Inc. Has $24.69 Million Holdings in Cavco Industries, Inc. $CVCO

Punch & Associates Investment Management Inc. lifted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 21.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,991 shares of the construction company’s stock after purchasing an additional 8,940 shares during the quarter. Cavco Industries accounts for approximately 1.4% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Punch & Associates Investment Management Inc. owned 0.66% of Cavco Industries worth $24,694,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its position in shares of Cavco Industries by 13.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock valued at $90,000 after acquiring an additional 18 shares during the last quarter. Sheets Smith Wealth Management boosted its position in Cavco Industries by 0.9% during the first quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock valued at $1,090,000 after purchasing an additional 20 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after purchasing an additional 22 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Cavco Industries by 2.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,450 shares of the construction company’s stock valued at $857,000 after purchasing an additional 40 shares in the last quarter. Finally, Aristides Capital LLC grew its stake in Cavco Industries by 4.6% in the fourth quarter. Aristides Capital LLC now owns 902 shares of the construction company’s stock valued at $533,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CVCO shares. UBS Group started coverage on Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 price objective on the stock. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cavco Industries currently has an average rating of “Moderate Buy” and an average target price of $625.00.

Cavco Industries Stock Up 1.4%

NASDAQ:CVCO opened at $569.77 on Friday. The stock’s 50 day moving average price is $565.24 and its two-hundred day moving average price is $553.70. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 23.77 and a beta of 1.28. Cavco Industries, Inc. has a 12-month low of $397.38 and a 12-month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping the consensus estimate of $5.30 by $0.12. The company had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Equities research analysts expect that Cavco Industries, Inc. will post 24.5 EPS for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the sale, the executive vice president owned 9,147 shares of the company’s stock, valued at $5,716,875. This trade represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Paul Bigbee sold 200 shares of Cavco Industries stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the transaction, the chief accounting officer directly owned 1,105 shares of the company’s stock, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,541 shares of company stock worth $2,121,932. Company insiders own 1.70% of the company’s stock.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.