Schroder Investment Management Group lessened its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,855 shares of the construction company's stock after selling 39,375 shares during the period. Schroder Investment Management Group owned about 0.91% of Cavco Industries worth $33,001,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in CVCO. Loomis Sayles & Co. L P purchased a new position in Cavco Industries during the 4th quarter worth $20,382,000. Norges Bank bought a new stake in Cavco Industries in the 4th quarter worth about $17,730,000. Raymond James Financial Inc. purchased a new stake in Cavco Industries in the 4th quarter valued at about $5,967,000. Geode Capital Management LLC lifted its position in shares of Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock worth $96,107,000 after buying an additional 12,822 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cavco Industries by 55.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,887 shares of the construction company's stock worth $15,368,000 after buying an additional 12,780 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.
Cavco Industries Price Performance
Shares of Cavco Industries stock traded up $2.61 on Friday, reaching $488.94. 88,698 shares of the company traded hands, compared to its average volume of 63,278. 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 52 week low of $331.08 and a 52 week high of $544.08. The firm has a market capitalization of $3.96 billion, a PE ratio of 24.06 and a beta of 1.34.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.
Insider Transactions at Cavco Industries
In other news, Director Susan L. Blount sold 750 shares of the business's 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 sale, the director now owns 2,836 shares of the company's stock, valued at $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Greenblatt sold 4,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This trade represents a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,644 shares of company stock worth $4,494,608. 1.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts recently commented on CVCO shares. StockNews.com downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research report on Wednesday. Wedbush reaffirmed 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.
Get Our Latest Report on CVCO
About Cavco Industries
(
Free Report)
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.
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