Handelsbanken Fonder AB Sells 700 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Handelsbanken Fonder AB trimmed its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,286 shares of the construction company's stock after selling 700 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.71% of Cavco Industries worth $25,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Cavco Industries by 131.4% during the 3rd quarter. Creative Planning now owns 2,629 shares of the construction company's stock worth $1,126,000 after buying an additional 1,493 shares during the period. Blue Trust Inc. lifted its holdings in shares of Cavco Industries by 90.0% during the 3rd 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. Assenagon Asset Management S.A. lifted its holdings in shares of Cavco Industries by 1,610.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company's stock valued at $26,052,000 after purchasing an additional 57,278 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Cavco Industries by 2.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 4,000 shares of the construction company's stock valued at $1,713,000 after purchasing an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Cavco Industries by 3.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,709 shares of the construction company's stock valued at $2,016,000 after purchasing an additional 152 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Stock Down 1.8 %

Shares of CVCO stock traded down $9.37 during trading on Friday, reaching $520.81. 37,228 shares of the company's stock were exchanged, compared to its average volume of 57,313. The stock has a market capitalization of $4.22 billion, a PE ratio of 25.63 and a beta of 1.35. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The firm's fifty day moving average price is $479.66 and its 200-day moving average price is $450.90.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share 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%. As a group, analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jack S. Brandom sold 1,000 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $538.00, for a total transaction of $538,000.00. Following the transaction, the insider now directly owns 1,176 shares of the company's stock, valued at approximately $632,688. The trade was a 45.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the transaction, the director now directly owns 2,836 shares in the company, valued at approximately $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,519 shares of company stock valued at $2,806,172. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVCO shares. Wedbush restated a "neutral" rating and issued a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. Craig Hallum upped their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd.

Cavco Industries Company 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.