Invesco Ltd. Boosts Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Invesco Ltd. raised its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,457 shares of the construction company's stock after purchasing an additional 28,730 shares during the quarter. Invesco Ltd. owned 2.25% of Cavco Industries worth $81,418,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CVCO. FMR LLC raised its holdings in shares of Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after buying an additional 160,899 shares during the period. Proficio Capital Partners LLC acquired a new position in Cavco Industries in the 4th quarter valued at about $5,376,000. Charles Schwab Investment Management Inc. increased its stake in Cavco Industries by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock worth $49,521,000 after purchasing an additional 1,524 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Cavco Industries during the fourth quarter worth about $215,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Cavco Industries during the fourth quarter worth about $308,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVCO. Wedbush restated a "neutral" rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd.

Insider Activity

In other news, Director David A. Greenblatt sold 4,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew A. Nino sold 894 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total value of $472,952.82. Following the sale, the insider now directly owns 771 shares in the company, valued at $407,882.13. This trade represents a 53.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,894 shares of company stock worth $4,140,833. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Stock Performance

CVCO stock traded up $8.30 during mid-day trading on Friday, reaching $477.75. The company had a trading volume of 70,524 shares, compared to its average volume of 63,833. The firm has a fifty day simple moving average of $509.86 and a 200 day simple moving average of $480.30. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 23.51 and a beta of 1.19. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08.

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

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.