Intech Investment Management LLC grew its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 182.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,174 shares of the construction company's stock after purchasing an additional 1,404 shares during the quarter. Intech Investment Management LLC's holdings in Cavco Industries were worth $931,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the business. Moran Wealth Management LLC raised its holdings in shares of Cavco Industries by 35.3% in the third quarter. Moran Wealth Management LLC now owns 1,387 shares of the construction company's stock worth $594,000 after buying an additional 362 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Cavco Industries during the third quarter worth about $64,000. Aviance Capital Partners LLC boosted its position in Cavco Industries by 0.7% in the third quarter. Aviance Capital Partners LLC now owns 17,316 shares of the construction company's stock valued at $7,415,000 after buying an additional 122 shares during the last quarter. Quest Partners LLC lifted its stake in Cavco Industries by 65.1% during the 3rd quarter. Quest Partners LLC now owns 4,440 shares of the construction company's stock valued at $1,901,000 after acquiring an additional 1,751 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Cavco Industries by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company's stock worth $4,066,000 after acquiring an additional 37 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Wedbush upped their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an "outperform" rating in a research report on Friday, October 11th. Craig Hallum boosted 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 raised Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th.
Check Out Our Latest Report on Cavco Industries
Insider Buying and Selling at Cavco Industries
In related news, Director Julia Sze sold 125 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now directly owns 981 shares of the company's stock, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,313 shares of company stock worth $1,780,681 in the last ninety days. 1.60% of the stock is owned by insiders.
Cavco Industries Price Performance
CVCO traded down $1.36 on Friday, reaching $514.50. 25,453 shares of the company's stock were exchanged, compared to its average volume of 64,466. The stock has a market cap of $4.17 billion, a PE ratio of 29.09 and a beta of 1.24. Cavco Industries, Inc. has a twelve month low of $279.50 and a twelve month high of $544.08. The stock's fifty day moving average price is $447.82 and its 200-day moving average price is $401.78.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the previous year, the firm earned $4.76 EPS. As a group, research analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.
About Cavco Industries
(
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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