Raymond James Financial Inc. Invests $5.97 Million in Cavco Industries, Inc. (NASDAQ:CVCO)

Raymond James Financial Inc. purchased a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,371 shares of the construction company's stock, valued at approximately $5,967,000. Raymond James Financial Inc. owned about 0.16% of Cavco Industries as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC bought a new stake in shares of Cavco Industries during the third quarter valued at approximately $64,000. Smartleaf Asset Management LLC raised its stake in shares of Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. lifted its holdings in Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock worth $142,000 after acquiring an additional 42 shares during the period. Finally, KBC Group NV increased its stake in shares of Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after acquiring an additional 86 shares during the period. Institutional investors and hedge funds own 95.56% of the company's stock.

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Insider Transactions at Cavco Industries

In other news, Director Susan L. Blount sold 750 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew A. Nino sold 894 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total transaction of $472,952.82. Following the transaction, the insider now directly owns 771 shares in the company, valued at $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,644 shares of company stock valued at $4,494,608 over the last quarter. Company insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVCO. Wedbush reiterated 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 raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a report on Monday, February 3rd.

Cavco Industries Trading Down 2.4 %

Shares of Cavco Industries stock traded down $12.59 on Friday, reaching $513.96. 47,557 shares of the company were exchanged, compared to its average volume of 62,689. The stock has a fifty day moving average price of $513.18 and a 200-day moving average price of $473.44. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 25.29 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 released 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%. On average, equities analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal 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.