State Street Corp Decreases Position in Cavco Industries, Inc. (NASDAQ:CVCO)

State Street Corp reduced its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 404,634 shares of the construction company's stock after selling 6,249 shares during the quarter. State Street Corp owned 4.99% of Cavco Industries worth $173,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVCO. 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 worth $35,000 after acquiring an additional 99 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock worth $44,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new position in shares of Cavco Industries in the 3rd quarter worth about $64,000. GAMMA Investing LLC increased its position in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock valued at $118,000 after purchasing an additional 64 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at about $138,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Buying and Selling

In related news, CAO Paul Bigbee sold 100 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the transaction, the chief accounting officer now owns 981 shares in the company, valued at $502,497.63. The trade was a 9.25 % 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 Julia Sze sold 125 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $503.31, for a total transaction of $62,913.75. Following the completion of the sale, the director now owns 2,736 shares of the company's stock, valued at $1,377,056.16. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 350 shares of company stock valued at $171,472 over the last ninety days. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Craig Hallum increased their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a report on Monday, November 4th. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective on the stock. in a research note on Tuesday, December 3rd. Finally, StockNews.com downgraded Cavco Industries from a "buy" rating to a "hold" rating in a report on Wednesday.

Cavco Industries Stock Down 2.8 %

Shares of Cavco Industries stock traded down $14.12 on Friday, hitting $484.66. The stock had a trading volume of 52,747 shares, compared to its average volume of 64,083. Cavco Industries, Inc. has a one year low of $304.10 and a one year high of $544.08. The stock's 50-day simple moving average is $463.95 and its two-hundred day simple moving average is $412.27. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 27.40 and a beta of 1.29.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter last year, the firm earned $4.76 EPS. As a group, equities analysts predict that Cavco Industries, Inc. will post 18 EPS 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.