CIBC Private Wealth Group LLC boosted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 442.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,778 shares of the construction company's stock after acquiring an additional 1,450 shares during the period. CIBC Private Wealth Group LLC's holdings in Cavco Industries were worth $790,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Cavco Industries in the fourth quarter worth about $67,000. Smartleaf Asset Management LLC boosted its stake in Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after purchasing an additional 128 shares during the period. Blue Trust Inc. boosted its stake in Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC grew its holdings in 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 buying an additional 42 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after buying an additional 86 shares during the last quarter. Institutional investors own 95.56% of the company's stock.
Cavco Industries Stock Performance
Shares of CVCO traded up $29.03 during mid-day trading on Wednesday, hitting $488.86. 94,537 shares of the stock were exchanged, compared to its average volume of 63,737. The company has a market cap of $3.96 billion, a PE ratio of 24.06 and a beta of 1.19. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The firm has a 50-day moving average of $516.42 and a two-hundred day moving average of $478.78.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) 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%. On average, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Wedbush restated a "neutral" rating and set a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd.
Read Our Latest Stock Analysis on CVCO
Insider Activity
In other Cavco Industries news, Director Susan L. Blount sold 750 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the sale, the director now directly owns 2,836 shares of the company's stock, valued at $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Greenblatt sold 4,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 15,286 shares of the company's stock, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,644 shares of company stock worth $4,494,608. 1.60% of the stock is currently owned by corporate insiders.
Cavco Industries Company Profile
(
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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