Cavco Industries, Inc. (NASDAQ:CVCO) Insider Sells $538,000.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $538.00, for a total value of $538,000.00. Following the completion of the transaction, the insider now owns 1,176 shares in the company, valued at $632,688. The trade was a 45.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cavco Industries Stock Performance

Cavco Industries stock opened at $535.31 on Friday. The company has a market capitalization of $4.34 billion, a PE ratio of 26.34 and a beta of 1.35. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08. The firm has a 50 day moving average price of $475.32 and a 200 day moving average price of $445.81.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in Cavco Industries by 118.8% during the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock worth $132,237,000 after purchasing an additional 160,899 shares in the last quarter. Geode Capital Management LLC lifted its position in Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company’s stock valued at $101,324,000 after acquiring an additional 2,640 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Cavco Industries by 0.3% during the fourth 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 last quarter. GW&K Investment Management LLC grew its holdings in shares of Cavco Industries by 1.0% during 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. Finally, Invesco Ltd. increased its position in shares of Cavco Industries by 18.7% during the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock worth $81,418,000 after purchasing an additional 28,730 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVCO. Wedbush reiterated a “neutral” rating and issued a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Craig Hallum boosted their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Cavco Industries Company 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.