Thrivent Financial for Lutherans Has $2.79 Million Stock Position in Cavco Industries, Inc. $CVCO

Thrivent Financial for Lutherans reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 20.1% during the 2nd quarter, Holdings Channel reports. The fund owned 6,419 shares of the construction company’s stock after selling 1,614 shares during the period. Thrivent Financial for Lutherans’ holdings in Cavco Industries were worth $2,789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CVCO. State Street Corp grew its position in shares of Cavco Industries by 6.1% in the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock valued at $165,380,000 after purchasing an additional 21,837 shares during the last quarter. Boston Partners grew its holdings in Cavco Industries by 5,371.3% in the 2nd quarter. Boston Partners now owns 201,947 shares of the construction company’s stock valued at $87,847,000 after buying an additional 198,256 shares in the last quarter. Broad Bay Capital Management LP increased its position in Cavco Industries by 18.3% during the 1st quarter. Broad Bay Capital Management LP now owns 178,189 shares of the construction company’s stock worth $92,592,000 after buying an additional 27,503 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Cavco Industries by 64.0% during the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock worth $80,940,000 after buying an additional 60,779 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Cavco Industries by 76.9% in the second quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company’s stock valued at $56,522,000 after acquiring an additional 56,578 shares during the period. Institutional investors own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVCO shares. Zacks Research cut shares of Cavco Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cavco Industries presently has an average rating of “Moderate Buy” and a consensus target price of $550.00.

Insider Activity

In other news, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $568.99, for a total transaction of $284,495.00. Following the completion of the transaction, the director owned 6,669 shares of the company’s stock, valued at approximately $3,794,594.31. This trade represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

Shares of CVCO opened at $601.57 on Tuesday. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $618.03. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 24.72 and a beta of 1.28. The business’s fifty day moving average is $570.03 and its 200-day moving average is $511.45.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $6.30 by $0.25. The firm had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. Cavco Industries had a return on equity of 19.13% and a net margin of 9.18%. As a group, research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Cavco Industries Company 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.