BNP Paribas Arbitrage SA Raises Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

BNP Paribas Arbitrage SA lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 53.7% in the first quarter, HoldingsChannel.com reports. The fund owned 2,921 shares of the construction company’s stock after acquiring an additional 1,020 shares during the period. BNP Paribas Arbitrage SA’s holdings in Cavco Industries were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CVCO. GSA Capital Partners LLP purchased a new stake in Cavco Industries in the fourth quarter worth $539,000. THB Asset Management increased its position in Cavco Industries by 0.9% in the fourth quarter. THB Asset Management now owns 5,663 shares of the construction company’s stock worth $993,000 after buying an additional 49 shares during the last quarter. GW&K Investment Management LLC increased its position in Cavco Industries by 16.2% in the fourth quarter. GW&K Investment Management LLC now owns 191,975 shares of the construction company’s stock worth $33,682,000 after buying an additional 26,726 shares during the last quarter. BlackRock Inc. increased its position in Cavco Industries by 3.7% in the fourth quarter. BlackRock Inc. now owns 1,417,105 shares of the construction company’s stock worth $248,630,000 after buying an additional 49,907 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in Cavco Industries by 1.6% in the fourth quarter. Gabelli Funds LLC now owns 111,860 shares of the construction company’s stock worth $19,626,000 after buying an additional 1,770 shares during the last quarter. 91.25% of the stock is owned by institutional investors.

Cavco Industries stock opened at $215.52 on Friday. Cavco Industries, Inc. has a one year low of $162.88 and a one year high of $242.06. The stock has a fifty day moving average of $217.57. The company has a quick ratio of 2.20, a current ratio of 2.75 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 26.12 and a beta of 1.13.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Tuesday, May 25th. The construction company reported $2.71 EPS 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 firm had revenue of $306.50 million during the quarter, compared to analyst estimates of $306.60 million. On average, research analysts forecast that Cavco Industries, Inc. will post 9.31 earnings per share for the current year.

Separately, Zacks Investment Research raised Cavco Industries from a “hold” rating to a “buy” rating and set a $248.00 target price for the company in a research report on Thursday.

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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