Bessemer Group Inc. boosted its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,017 shares of the construction company's stock after buying an additional 2,040 shares during the period. Bessemer Group Inc. owned approximately 0.62% of Cavco Industries worth $22,318,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Cavco Industries by 118.8% during the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after purchasing an additional 160,899 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Cavco Industries during the fourth quarter valued at approximately $20,382,000. Norges Bank bought a new stake in shares of Cavco Industries during the fourth quarter worth $17,730,000. Invesco Ltd. raised its holdings in Cavco Industries by 18.7% during the 4th quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock worth $81,418,000 after purchasing an additional 28,730 shares during the last quarter. Finally, Cannell Capital LLC grew its holdings in Cavco Industries by 24.3% during the fourth quarter. Cannell Capital LLC now owns 83,958 shares of the construction company's stock valued at $37,465,000 after purchasing an additional 16,407 shares during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.
Cavco Industries Stock Down 0.9 %
Shares of NASDAQ CVCO traded down $4.23 on Wednesday, reaching $471.32. 13,655 shares of the company's stock traded hands, compared to its average volume of 63,810. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 23.19 and a beta of 1.19. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08. The business's 50 day simple moving average is $512.05 and its two-hundred day simple moving average is $480.03.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating 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%. Analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CVCO shares. Wedbush restated a "neutral" rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd.
Check Out Our Latest Report on CVCO
Insider Buying and Selling at Cavco Industries
In other news, Director Susan L. Blount sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total transaction of $1,014,360.00. Following the completion of the transaction, the director now directly owns 2,836 shares of the company's stock, valued at approximately $1,438,362.48. This represents a 41.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jack S. Brandom sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $538.00, for a total transaction of $538,000.00. Following the completion of the sale, the insider now directly owns 1,176 shares in the company, valued at $632,688. This represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,894 shares of company stock worth $4,140,833. Corporate insiders own 1.60% of the company's stock.
About Cavco Industries
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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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