Marks Group Wealth Management Inc Raises Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Marks Group Wealth Management Inc grew its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 38.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,137 shares of the construction company's stock after purchasing an additional 3,106 shares during the period. Marks Group Wealth Management Inc owned approximately 0.13% of Cavco Industries worth $4,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock valued at $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock valued at $44,000 after acquiring an additional 82 shares during the period. GAMMA Investing LLC increased its position in shares of Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock valued at $118,000 after acquiring an additional 64 shares during the period. nVerses Capital LLC acquired a new position in shares of Cavco Industries in the 2nd quarter valued at $138,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cavco Industries in the 1st quarter valued at $197,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Craig Hallum upped their target price on Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a research report on Monday. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Wedbush upped their target price on Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a research report on Friday, October 11th.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares of the company's stock, valued at approximately $433,913.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares of the company's stock, valued at $2,679,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Cavco Industries Trading Up 1.2 %

CVCO traded up $5.28 during midday trading on Wednesday, hitting $462.98. 116,946 shares of the company were exchanged, compared to its average volume of 64,608. The company's 50 day simple moving average is $424.25 and its 200 day simple moving average is $389.15. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 26.17 and a beta of 1.24. Cavco Industries, Inc. has a 1-year low of $250.75 and a 1-year high of $468.13.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period last year, the firm earned $4.76 EPS. On average, equities analysts anticipate that Cavco Industries, Inc. will post 17.35 EPS 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.