Mitsubishi UFJ Asset Management UK Ltd. Invests $642,000 in Cavco Industries, Inc. (NASDAQ:CVCO)

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 1,500 shares of the construction company's stock, valued at approximately $642,000.

Other hedge funds also recently made changes to their positions in the company. Verus Capital Partners LLC grew its holdings in shares of Cavco Industries by 4.5% during the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company's stock worth $226,000 after purchasing an additional 28 shares in the last quarter. Anchor Capital Advisors LLC increased its holdings in shares of Cavco Industries by 0.7% in the 1st quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company's stock worth $1,976,000 after buying an additional 32 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Cavco Industries by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 2,103 shares of the construction company's stock worth $728,000 after buying an additional 39 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Cavco Industries by 3.3% during the 1st quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company's stock valued at $669,000 after buying an additional 54 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock worth $118,000 after acquiring an additional 64 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

Shares of CVCO traded up $2.76 during mid-day trading on Friday, hitting $448.26. 38,355 shares of the company traded hands, compared to its average volume of 64,977. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 24.43 and a beta of 1.24. Cavco Industries, Inc. has a 1 year low of $233.84 and a 1 year high of $452.42. The stock has a 50-day moving average price of $414.72 and a two-hundred day moving average price of $384.06.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86). The firm had revenue of $477.60 million for the quarter, compared to analysts' expectations of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same period in the prior year, the firm earned $5.29 EPS. On average, analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Steven K. Like sold 575 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the transaction, the senior vice president now owns 1,255 shares of the company's stock, valued at $460,108.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Paul Bigbee sold 88 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares of the company's stock, valued at approximately $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,663 shares of company stock valued at $1,882,930 over the last 90 days. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVCO shares. Wedbush increased their target price on Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a report on Friday, October 11th. Craig Hallum lifted their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the company a "buy" rating in a research report on Monday, August 5th.

Cavco Industries Company Profile

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.