CIBC Private Wealth Group LLC Increases Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

CIBC Private Wealth Group LLC grew its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 442.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,778 shares of the construction company’s stock after acquiring an additional 1,450 shares during the period. CIBC Private Wealth Group LLC’s holdings in Cavco Industries were worth $790,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. SkyView Investment Advisors LLC lifted its stake in Cavco Industries by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock worth $767,000 after purchasing an additional 31 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after buying an additional 42 shares during the period. Xponance Inc. lifted its stake in Cavco Industries by 9.4% during the 4th quarter. Xponance Inc. now owns 596 shares of the construction company’s stock worth $266,000 after acquiring an additional 51 shares in the last quarter. Blue Trust Inc. boosted its holdings in Cavco Industries by 28.9% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after acquiring an additional 55 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in Cavco Industries by 8.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 720 shares of the construction company’s stock valued at $321,000 after acquiring an additional 55 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.

Cavco Industries Price Performance

CVCO stock opened at $488.94 on Friday. The business’s 50-day moving average is $517.10 and its two-hundred day moving average is $477.41. The firm has a market capitalization of $3.96 billion, a P/E ratio of 24.06 and a beta of 1.34. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Transactions at Cavco Industries

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the sale, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This trade represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jack S. Brandom sold 1,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $538.00, for a total value of $538,000.00. Following the transaction, the insider now directly owns 1,176 shares of the company’s stock, valued at approximately $632,688. This represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,644 shares of company stock valued at $4,494,608. Insiders own 1.60% 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.