Wellington Management Group LLP Sells 35,086 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Wellington Management Group LLP decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 252,023 shares of the construction company's stock after selling 35,086 shares during the period. Wellington Management Group LLP owned about 3.11% of Cavco Industries worth $107,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Cavco Industries by 37.1% during the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company's stock worth $3,274,000 after acquiring an additional 2,558 shares in the last quarter. Quest Partners LLC bought a new position in shares of Cavco Industries during the 2nd quarter valued at $931,000. Blue Trust Inc. raised its position in Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company's stock worth $81,000 after purchasing an additional 90 shares during the period. Fisher Asset Management LLC lifted its stake in Cavco Industries by 8.5% in the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company's stock worth $30,614,000 after purchasing an additional 5,620 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock valued at $20,091,000 after buying an additional 22,451 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Buying and Selling

In related news, Director Steven G. Bunger sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 37.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,438 shares of company stock worth $1,843,595. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVCO. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price target on the stock. in a research note on Tuesday, December 3rd. Craig Hallum raised their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a report on Monday, November 4th.

Cavco Industries Stock Down 0.7 %

Shares of NASDAQ CVCO traded down $3.69 during trading on Tuesday, reaching $500.00. The company had a trading volume of 73,136 shares, compared to its average volume of 64,182. The stock has a market cap of $4.06 billion, a PE ratio of 27.87 and a beta of 1.29. The business's 50-day moving average is $458.84 and its 200 day moving average is $409.02. Cavco Industries, Inc. has a 12-month low of $301.56 and a 12-month high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the previous year, the firm earned $4.76 EPS. On average, analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Cavco Industries 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.