Cerity Partners LLC Purchases 22,451 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Cerity Partners LLC increased its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 91.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,915 shares of the construction company's stock after buying an additional 22,451 shares during the quarter. Cerity Partners LLC owned 0.58% of Cavco Industries worth $20,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verus Capital Partners LLC raised its stake 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 valued at $226,000 after acquiring an additional 28 shares during the last quarter. Amalgamated Bank increased its holdings in Cavco Industries by 1.2% during the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company's stock valued at $1,040,000 after purchasing an additional 29 shares during the period. Thrivent Financial for Lutherans increased its holdings in Cavco Industries by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company's stock valued at $4,066,000 after purchasing an additional 37 shares during the period. Arizona State Retirement System raised its position in Cavco Industries by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 2,103 shares of the construction company's stock valued at $728,000 after purchasing an additional 39 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock worth $118,000 after buying an additional 64 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush boosted their target price on Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a research note on Friday, October 11th. Craig Hallum upped their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th.

Insiders Place Their Bets

In related news, CAO Paul Bigbee sold 88 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,081 shares of the company's stock, valued at approximately $433,913.40. This represents a 7.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julia Sze sold 125 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,213 shares of company stock valued at $1,729,458. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Trading Up 4.0 %

Cavco Industries stock traded up $20.26 on Monday, hitting $533.17. 118,167 shares of the stock traded hands, compared to its average volume of 64,576. Cavco Industries, Inc. has a 1 year low of $271.48 and a 1 year high of $544.08. The firm has a market cap of $4.32 billion, a P/E ratio of 30.66 and a beta of 1.24. The business's fifty day simple moving average is $440.64 and its 200 day simple moving average is $398.05.

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

About Cavco Industries

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.