Sei Investments Co. trimmed its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,311 shares of the construction company's stock after selling 2,117 shares during the period. Sei Investments Co. owned about 0.09% of Cavco Industries worth $3,262,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock worth $96,107,000 after acquiring an additional 12,822 shares in the last quarter. Boston Trust Walden Corp raised its position in Cavco Industries by 0.3% in the 4th quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company's stock worth $86,522,000 after purchasing an additional 614 shares during the period. GW&K Investment Management LLC lifted its stake in Cavco Industries by 1.0% in the fourth quarter. GW&K Investment Management LLC now owns 188,715 shares of the construction company's stock worth $84,210,000 after purchasing an additional 1,931 shares during the last quarter. FMR LLC boosted its position in Cavco Industries by 7.0% during the third quarter. FMR LLC now owns 135,444 shares of the construction company's stock valued at $58,002,000 after buying an additional 8,829 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cavco Industries by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock valued at $49,521,000 after buying an additional 1,524 shares during the last quarter. Institutional investors own 95.56% of the company's stock.
Insider Activity at Cavco Industries
In related news, Director David A. Greenblatt sold 4,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now owns 15,286 shares in the company, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the transaction, the director now directly owns 2,836 shares of the company's stock, valued at approximately $1,337,741.20. The trade was a 20.91 % 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 worth $4,494,608 over the last quarter. 1.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CVCO. StockNews.com lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Wedbush reiterated a "neutral" rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.
Check Out Our Latest Research Report on CVCO
Cavco Industries Stock Down 2.9 %
Shares of NASDAQ:CVCO traded down $14.42 during midday trading on Monday, hitting $474.53. 39,634 shares of the stock traded hands, compared to its average volume of 63,199. The business's 50 day moving average is $517.10 and its two-hundred day moving average is $478.11. The stock has a market capitalization of $3.85 billion, a PE ratio of 23.27 and a beta of 1.19. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.
Cavco Industries Company Profile
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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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