Cerity Partners LLC cut its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 35.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,261 shares of the construction company's stock after selling 16,654 shares during the period. Cerity Partners LLC owned approximately 0.37% of Cavco Industries worth $12,970,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Cavco Industries by 118.8% in 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 in the last quarter. Proficio Capital Partners LLC acquired a new position in Cavco Industries in the fourth quarter valued at about $5,376,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Cavco Industries by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock worth $49,521,000 after buying an additional 1,524 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Cavco Industries in the 4th quarter worth approximately $215,000. Finally, Intech Investment Management LLC grew its position in Cavco Industries by 91.4% during the 4th quarter. Intech Investment Management LLC now owns 4,160 shares of the construction company's stock worth $1,856,000 after acquiring an additional 1,986 shares during the last quarter. Institutional investors own 95.56% of the company's stock.
Insider Activity 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 ninety days, insiders sold 8,644 shares of company stock valued at $4,494,608. Insiders own 1.60% of the company's stock.
Analyst Ratings Changes
CVCO has been the topic of a number of recent analyst reports. Wedbush reissued a "neutral" rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd.
Read Our Latest Stock Report on CVCO
Cavco Industries Stock Up 0.5 %
Shares of CVCO stock traded up $2.41 during trading on Tuesday, reaching $477.88. The company's stock had a trading volume of 19,774 shares, compared to its average volume of 63,263. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08. The business has a fifty day moving average price of $513.29 and a 200-day moving average price of $480.06. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 23.52 and a beta of 1.19.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Research analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.
Cavco Industries Profile
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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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