Janney Montgomery Scott LLC Sells 58 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Janney Montgomery Scott LLC trimmed its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,595 shares of the construction company’s stock after selling 58 shares during the period. Janney Montgomery Scott LLC’s holdings in Cavco Industries were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in shares of Cavco Industries by 31.4% during the 2nd quarter. Captrust Financial Advisors now owns 393 shares of the construction company’s stock worth $77,000 after purchasing an additional 94 shares during the last quarter. US Bancorp DE increased its position in Cavco Industries by 25.2% during the first quarter. US Bancorp DE now owns 388 shares of the construction company’s stock worth $94,000 after buying an additional 78 shares during the last quarter. Meeder Asset Management Inc. increased its position in Cavco Industries by 13,920.0% during the second quarter. Meeder Asset Management Inc. now owns 701 shares of the construction company’s stock worth $137,000 after buying an additional 696 shares during the last quarter. KBC Group NV bought a new position in shares of Cavco Industries during the 2nd quarter worth approximately $145,000. Finally, Zebra Capital Management LLC acquired a new position in shares of Cavco Industries during the 1st quarter worth approximately $209,000. 93.32% of the stock is owned by institutional investors.

Cavco Industries Price Performance

CVCO stock opened at $257.76 on Wednesday. Cavco Industries, Inc. has a fifty-two week low of $179.47 and a fifty-two week high of $305.21. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 8.81 and a beta of 1.14. The business’s fifty day moving average price is $234.33 and its two-hundred day moving average price is $232.17.

Cavco Industries (NASDAQ:CVCO – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The construction company reported $8.25 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $3.42. The business had revenue of $577.39 million for the quarter, compared to analyst estimates of $550.30 million. Cavco Industries had a net margin of 12.69% and a return on equity of 27.72%. Research analysts expect that Cavco Industries, Inc. will post 27.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Craig Hallum reduced their price objective on shares of Cavco Industries from $335.00 to $290.00 in a research report on Monday, November 7th. StockNews.com cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, November 4th.

About Cavco Industries

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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, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands.