FMR LLC lifted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 118.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 296,343 shares of the construction company's stock after buying an additional 160,899 shares during the period. FMR LLC owned approximately 3.65% of Cavco Industries worth $132,237,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in CVCO. Harvest Fund Management Co. Ltd purchased a new stake in Cavco Industries during the fourth quarter valued at about $67,000. Smartleaf Asset Management LLC boosted its position in Cavco Industries by 387.9% during 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 position in Cavco Industries by 28.9% during 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 increased its holdings in Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV raised its position in Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after purchasing an additional 86 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.
Cavco Industries Stock Performance
Shares of NASDAQ CVCO traded up $8.30 during midday trading on Friday, reaching $477.75. 70,524 shares of the company's stock were exchanged, compared to its average volume of 63,833. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The business's fifty day moving average price is $509.86 and its two-hundred day moving average price is $480.30. The stock has a market capitalization of $3.87 billion, a PE ratio of 23.51 and a beta of 1.19.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its 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 return on equity of 16.17% and a net margin of 8.75%. Analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.
Insider Buying and Selling at Cavco Industries
In related news, insider Matthew A. Nino sold 894 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total value of $472,952.82. Following the completion of the sale, the insider now directly owns 771 shares of the company's stock, valued at $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jack S. Brandom sold 1,000 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $538.00, for a total value of $538,000.00. Following the sale, the insider now owns 1,176 shares in the company, valued at $632,688. The trade was a 45.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,894 shares of company stock worth $4,140,833 in the last ninety days. 1.60% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research firms have recently issued reports on CVCO. StockNews.com lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Wedbush reiterated a "neutral" rating and set a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.
Read Our Latest Research Report on CVCO
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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