Cavco Industries, Inc. (NASDAQ:CVCO) Position Lessened by Robotti Robert

Robotti Robert lessened its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,408 shares of the construction company's stock after selling 1,416 shares during the period. Cavco Industries accounts for approximately 3.2% of Robotti Robert's portfolio, making the stock its 8th largest holding. Robotti Robert owned approximately 0.51% of Cavco Industries worth $18,477,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Atom Investors LP acquired a new position in shares of Cavco Industries in the third quarter valued at approximately $7,572,000. Raymond James Financial Inc. acquired a new position in Cavco Industries in the 4th quarter valued at $5,967,000. Geode Capital Management LLC raised its holdings in Cavco Industries by 6.1% in the 3rd 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. lifted its stake in shares of Cavco Industries by 55.3% during the 3rd 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. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Cavco Industries during the fourth quarter worth $5,376,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVCO shares. Wedbush reiterated a "neutral" rating and set a $550.00 target price (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 research report on Monday, February 3rd.

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Cavco Industries Price Performance

CVCO stock traded up $1.85 during trading on Monday, reaching $515.81. 10,657 shares of the stock traded hands, compared to its average volume of 60,127. The firm has a market capitalization of $4.18 billion, a PE ratio of 25.38 and a beta of 1.34. The business's 50 day moving average price is $513.92 and its 200-day moving average price is $475.20. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week 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 (EPS) for the quarter, topping analysts' consensus estimates 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 research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Insider Activity

In related news, Director David A. Greenblatt sold 4,000 shares of the firm'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 sale, the director now directly owns 15,286 shares in the company, valued at approximately $8,084,459.68. This trade represents a 20.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan L. Blount sold 750 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the transaction, the director now directly owns 2,836 shares in the company, valued at $1,337,741.20. This trade represents a 20.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,644 shares of company stock valued at $4,494,608. Company insiders own 1.60% of the company's stock.

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.