Edgestream Partners L.P. Sells 3,369 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Edgestream Partners L.P. lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 27.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,893 shares of the construction company's stock after selling 3,369 shares during the period. Edgestream Partners L.P. owned approximately 0.11% of Cavco Industries worth $3,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. grew its holdings in shares of Cavco Industries by 507.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company's stock worth $3,139,000 after buying an additional 7,576 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company's stock valued at $3,274,000 after purchasing an additional 2,558 shares during the period. Quest Partners LLC acquired a new position in Cavco Industries during the 2nd quarter worth about $931,000. Blue Trust Inc. grew its holdings in shares of Cavco Industries by 90.0% in the third quarter. Blue Trust Inc. now owns 190 shares of the construction company's stock valued at $81,000 after purchasing an additional 90 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock worth $20,091,000 after acquiring an additional 22,451 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Insiders Place Their Bets

In other news, Director Julia Sze sold 125 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Paul Bigbee sold 88 shares of the business's stock in a transaction dated 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 directly owns 1,081 shares of the company's stock, valued at approximately $433,913.40. This represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,313 shares of company stock valued at $1,780,681 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded down $1.36 during trading on Friday, reaching $514.50. The company had a trading volume of 25,453 shares, compared to its average volume of 64,363. Cavco Industries, Inc. has a twelve month low of $279.50 and a twelve month high of $544.08. The firm's fifty day moving average is $449.40 and its 200 day moving average is $403.05. The firm has a market capitalization of $4.17 billion, a PE ratio of 29.08 and a beta of 1.24.

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

Wall Street Analyst Weigh In

CVCO has been the subject of a number of research reports. Craig Hallum boosted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Wedbush boosted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a research note on Friday, October 11th. Finally, StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th.

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.