Franklin Resources Inc. Acquires 1,856 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Franklin Resources Inc. lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,394 shares of the construction company's stock after purchasing an additional 1,856 shares during the quarter. Franklin Resources Inc. owned approximately 0.14% of Cavco Industries worth $5,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. SkyView Investment Advisors LLC boosted its stake in shares of Cavco Industries by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company's stock worth $767,000 after acquiring an additional 31 shares in the last quarter. GAMMA Investing LLC boosted its position in Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock worth $142,000 after purchasing an additional 42 shares during the period. Xponance Inc. boosted its position in Cavco Industries by 9.4% during the fourth quarter. Xponance Inc. now owns 596 shares of the construction company's stock worth $266,000 after purchasing an additional 51 shares during the period. Blue Trust Inc. grew its holdings in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock valued at $105,000 after purchasing an additional 55 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Cavco Industries by 8.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 720 shares of the construction company's stock worth $321,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 95.56% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on CVCO shares. Wedbush restated a "neutral" rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd.

Cavco Industries Stock Performance

Shares of CVCO traded down $3.49 during trading hours on Wednesday, reaching $472.06. 9,050 shares of the company traded hands, compared to its average volume of 63,789. The stock's fifty day moving average is $512.05 and its 200 day moving average is $480.03. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $544.08. The stock has a market cap of $3.83 billion, a P/E ratio of 23.29 and a beta of 1.19.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping 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%. On average, equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Buying and Selling

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the transaction, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Blount sold 2,000 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total transaction of $1,014,360.00. Following the completion of the sale, the director now owns 2,836 shares in the company, valued at $1,438,362.48. This represents a 41.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,894 shares of company stock valued at $4,140,833 over the last ninety days. 1.60% of the stock is owned by company insiders.

About Cavco Industries

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.