Insider Selling: Cavco Industries (NASDAQ:CVCO) CAO Sells $202,464.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 342 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the sale, the chief accounting officer directly owned 736 shares in the company, valued at $435,712. This represents a 31.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Paul Bigbee also recently made the following trade(s):

• On Thursday, May 28th, Paul Bigbee sold 200 shares of Cavco Industries stock. The shares were sold at an average price of $537.75, for a total value of $107,550.00.

Cavco Industries Price Performance

Shares of NASDAQ CVCO opened at $582.55 on Friday. The business has a fifty day moving average price of $584.13 and a two-hundred day moving average price of $544.20. The stock has a market capitalization of $4.48 billion, a PE ratio of 25.35 and a beta of 1.29. Cavco Industries, Inc. has a fifty-two week low of $443.33 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The company had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. On average, equities analysts expect that Cavco Industries, Inc. will post 22.75 EPS for the current year.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of CVCO. Northwestern Mutual Wealth Management Co. increased its holdings in Cavco Industries by 852,093.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after purchasing an additional 1,797,917 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Cavco Industries during the second quarter valued at about $767,112,000. Boston Partners grew its holdings in shares of Cavco Industries by 82.8% during the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after purchasing an additional 167,230 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cavco Industries by 53.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock worth $126,166,000 after purchasing an additional 74,542 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of Cavco Industries in the second quarter valued at approximately $42,954,000. Institutional investors own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVCO. UBS Group began coverage on Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cavco Industries presently has a consensus rating of “Hold” and a consensus price target of $700.00.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.