Loomis Sayles & Co. L P Acquires New Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Loomis Sayles & Co. L P acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 45,677 shares of the construction company's stock, valued at approximately $20,382,000. Loomis Sayles & Co. L P owned about 0.56% of Cavco Industries as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new position in Cavco Industries in the fourth quarter valued at about $5,376,000. Charles Schwab Investment Management Inc. raised its position in shares of Cavco Industries by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock valued at $49,521,000 after acquiring an additional 1,524 shares during the period. Intech Investment Management LLC boosted its stake in Cavco Industries by 91.4% during the 4th quarter. Intech Investment Management LLC now owns 4,160 shares of the construction company's stock worth $1,856,000 after acquiring an additional 1,986 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Cavco Industries by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 42,123 shares of the construction company's stock valued at $18,797,000 after purchasing an additional 790 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in Cavco Industries in the fourth quarter valued at approximately $425,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 in the company, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jack S. Brandom sold 1,000 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $538.00, for a total value of $538,000.00. Following the sale, the insider now owns 1,176 shares of the company's stock, valued at approximately $632,688. This represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,644 shares of company stock valued at $4,494,608. Insiders own 1.60% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVCO shares. Wedbush reissued a "neutral" rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a report on Monday, February 3rd.

Cavco Industries Trading Up 1.2 %

Cavco Industries stock traded up $6.37 during mid-day trading on Wednesday, reaching $522.50. The company had a trading volume of 26,971 shares, compared to its average volume of 62,648. The business has a fifty day simple moving average of $515.49 and a 200 day simple moving average of $476.56. The company has a market cap of $4.24 billion, a P/E ratio of 25.71 and a beta of 1.34. 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 (EPS) 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%. Research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Cavco Industries 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.