Fmr LLC Increases Position in Cavco Industries, Inc. (NASDAQ:CVCO)

FMR LLC raised its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 7.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,444 shares of the construction company's stock after acquiring an additional 8,829 shares during the quarter. FMR LLC owned approximately 1.67% of Cavco Industries worth $58,002,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Boston Trust Walden Corp raised its stake in shares of Cavco Industries by 0.8% in the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company's stock worth $67,865,000 after buying an additional 1,541 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Cavco Industries by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company's stock worth $46,872,000 after buying an additional 5,935 shares during the period. Fisher Asset Management LLC raised its stake in shares of Cavco Industries by 8.5% in the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company's stock worth $30,614,000 after buying an additional 5,620 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Cavco Industries by 1,610.3% in the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company's stock worth $26,052,000 after buying an additional 57,278 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Cavco Industries by 1.4% during the third quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company's stock worth $24,832,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO traded up $2.59 during trading on Friday, hitting $500.64. The company had a trading volume of 33,663 shares, compared to its average volume of 60,139. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 28.30 and a beta of 1.29. Cavco Industries, Inc. has a one year low of $301.56 and a one year high of $544.08. The company has a fifty day simple moving average of $457.34 and a two-hundred day simple moving average of $407.28.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period last year, the company earned $4.76 EPS. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVCO. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 target price for the company. in a research report on Tuesday. Craig Hallum increased their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a report on Monday, November 4th.

Insider Buying and Selling

In related news, Director Julia Sze sold 125 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 2,861 shares of the company's stock, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares of the company's stock, valued at approximately $2,679,032.40. This trade represents a 37.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,313 shares of company stock valued at $1,780,681. Insiders own 1.60% of the company's stock.

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.