Corient Private Wealth LLC lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 40.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,890 shares of the construction company's stock after selling 4,041 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Cavco Industries worth $2,628,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC grew its position in shares of Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company's stock worth $767,000 after acquiring an additional 31 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Cavco Industries by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company's stock valued at $4,066,000 after acquiring an additional 37 shares during the period. GAMMA Investing LLC increased its position in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after purchasing an additional 42 shares during the period. Blue Trust Inc. grew its holdings in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after acquiring an additional 55 shares during the period. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Cavco Industries by 8.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 720 shares of the construction company's stock worth $321,000 after purchasing an additional 55 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CVCO. Wedbush reiterated a "neutral" rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd.
Read Our Latest Analysis on Cavco Industries
Insider Buying and Selling at Cavco Industries
In other news, Director David A. Greenblatt sold 4,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the sale, the director now directly owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Blount sold 750 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the completion of the sale, the director now owns 2,836 shares in the company, valued at $1,337,741.20. This represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,644 shares of company stock valued at $4,494,608. Corporate insiders own 1.60% of the company's stock.
Cavco Industries Stock Down 1.2 %
NASDAQ:CVCO traded down $6.64 during trading hours on Thursday, reaching $526.55. The company had a trading volume of 50,450 shares, compared to its average volume of 60,584. The stock has a 50-day moving average of $512.08 and a two-hundred day moving average of $473.07. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08. The firm has a market capitalization of $4.27 billion, a PE ratio of 25.91 and a beta of 1.34.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. As a group, sell-side analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.
About Cavco Industries
(
Free Report)
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.
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