KLP Kapitalforvaltning AS Buys New Shares in Cavco Industries, Inc. (NASDAQ:CVCO)

KLP Kapitalforvaltning AS bought a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,500 shares of the construction company's stock, valued at approximately $669,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Cavco Industries in the 4th quarter valued at $5,967,000. Geode Capital Management LLC boosted its holdings in Cavco Industries by 6.1% in the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock valued at $96,107,000 after acquiring an additional 12,822 shares during the last quarter. JPMorgan Chase & Co. increased its position in Cavco Industries by 55.3% in the third quarter. JPMorgan Chase & Co. now owns 35,887 shares of the construction company's stock worth $15,368,000 after purchasing an additional 12,780 shares during the period. Proficio Capital Partners LLC acquired a new stake in Cavco Industries in the fourth quarter worth about $5,376,000. Finally, Westbourne Investment Advisors Inc. raised its holdings in Cavco Industries by 1,656.3% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 12,733 shares of the construction company's stock worth $5,682,000 after purchasing an additional 12,008 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVCO has been the subject of several analyst reports. Wedbush reiterated a "neutral" rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Wednesday.

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Cavco Industries Trading Up 0.5 %

Shares of CVCO stock traded up $2.61 on Friday, reaching $488.94. The company had a trading volume of 88,698 shares, compared to its average volume of 63,278. The stock has a market cap of $3.96 billion, a PE ratio of 24.06 and a beta of 1.34. The company has a 50-day moving average of $517.10 and a 200-day moving average of $478.11. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08.

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 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 anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Insider Buying and Selling

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the sale, the director now directly owns 2,836 shares of the company's stock, valued at $1,337,741.20. This represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,644 shares of company stock valued at $4,494,608. 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.