David A. Greenblatt Sells 4,000 Shares of Cavco Industries, Inc. (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) Director David A. Greenblatt sold 4,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the sale, the director now directly owns 15,286 shares in the company, valued at approximately $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cavco Industries Price Performance

NASDAQ:CVCO traded down $12.01 during mid-day trading on Tuesday, reaching $499.45. The company's stock had a trading volume of 20,881 shares, compared to its average volume of 58,568. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The company's fifty day simple moving average is $495.86 and its two-hundred day simple moving average is $464.32. The stock has a market cap of $4.05 billion, a P/E ratio of 24.49 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Sell-side analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. FMR LLC increased its stake in Cavco Industries by 118.8% during the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after acquiring an additional 160,899 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cavco Industries by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock worth $101,324,000 after purchasing an additional 2,640 shares during the period. Boston Trust Walden Corp increased its position in Cavco Industries by 0.3% during the 4th quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company's stock worth $86,522,000 after purchasing an additional 614 shares in the last quarter. GW&K Investment Management LLC raised its holdings in Cavco Industries by 1.0% in the fourth quarter. GW&K Investment Management LLC now owns 188,715 shares of the construction company's stock valued at $84,210,000 after buying an additional 1,931 shares during the period. Finally, Invesco Ltd. lifted its position in Cavco Industries by 18.7% during the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock valued at $81,418,000 after buying an additional 28,730 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Wedbush restated a "neutral" rating and set a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research report 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.