Sheets Smith Wealth Management Cuts Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Sheets Smith Wealth Management reduced its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,035 shares of the construction company’s stock after selling 55 shares during the period. Sheets Smith Wealth Management’s holdings in Cavco Industries were worth $705,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CVCO. American Century Companies Inc. grew its holdings in Cavco Industries by 18.0% during the 3rd quarter. American Century Companies Inc. now owns 208,156 shares of the construction company’s stock worth $55,299,000 after acquiring an additional 31,707 shares in the last quarter. Boston Trust Walden Corp grew its holdings in Cavco Industries by 16.0% during the 4th quarter. Boston Trust Walden Corp now owns 195,904 shares of the construction company’s stock worth $67,904,000 after acquiring an additional 27,087 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Cavco Industries by 38.0% during the 4th quarter. Pacer Advisors Inc. now owns 169,643 shares of the construction company’s stock worth $58,802,000 after acquiring an additional 46,726 shares in the last quarter. Schroder Investment Management Group grew its holdings in Cavco Industries by 12.1% during the 3rd quarter. Schroder Investment Management Group now owns 136,868 shares of the construction company’s stock worth $36,360,000 after acquiring an additional 14,742 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cavco Industries by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 97,775 shares of the construction company’s stock worth $25,975,000 after acquiring an additional 4,752 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 1.7 %

NASDAQ CVCO traded up $6.33 on Monday, hitting $383.63. 12,858 shares of the stock were exchanged, compared to its average volume of 61,496. Cavco Industries, Inc. has a fifty-two week low of $233.84 and a fifty-two week high of $400.99. The company has a market cap of $3.20 billion, a PE ratio of 19.14 and a beta of 1.16. The company has a 50-day moving average price of $374.50 and a 200-day moving average price of $334.26.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Friday, February 2nd. The construction company reported $4.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.36 by ($0.09). Cavco Industries had a net margin of 9.25% and a return on equity of 17.00%. The company had revenue of $446.77 million during the quarter, compared to analyst estimates of $428.40 million. During the same quarter in the previous year, the company posted $6.66 EPS. As a group, equities research analysts predict that Cavco Industries, Inc. will post 19.46 EPS for the current fiscal year.

Insider Activity

In other news, insider Matthew A. Nino sold 2,357 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $360.00, for a total value of $848,520.00. Following the completion of the transaction, the insider now owns 1,248 shares in the company, valued at approximately $449,280. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Paul Bigbee sold 262 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $367.13, for a total transaction of $96,188.06. Following the completion of the sale, the chief accounting officer now owns 766 shares in the company, valued at approximately $281,221.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew A. Nino sold 2,357 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $360.00, for a total transaction of $848,520.00. Following the sale, the insider now owns 1,248 shares of the company’s stock, valued at approximately $449,280. The disclosure for this sale can be found here. Company insiders own 1.73% of the company’s stock.

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.