Cavco Industries (NASDAQ:CVCO) CAO Sells $107,550.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the transaction, the chief accounting officer owned 1,105 shares of the company’s stock, valued at $594,213.75. The trade was a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cavco Industries Trading Down 0.3%

Cavco Industries stock opened at $544.46 on Thursday. The firm has a market capitalization of $4.18 billion, a P/E ratio of 22.71 and a beta of 1.30. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $713.01. The business has a 50-day moving average of $502.89 and a 200-day moving average of $554.52.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.30 by $0.12. The company had revenue of $550.13 million during the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Research analysts anticipate that Cavco Industries, Inc. will post 25 EPS for the current fiscal year.

Hedge Funds Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently modified their holdings of CVCO. Royal Bank of Canada grew its position in shares of Cavco Industries by 5.2% in the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock valued at $9,849,000 after purchasing an additional 934 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cavco Industries by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after purchasing an additional 90 shares during the period. United Services Automobile Association acquired a new position in shares of Cavco Industries in the 1st quarter valued at approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Cavco Industries by 15.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock valued at $9,289,000 after purchasing an additional 2,384 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after purchasing an additional 22 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $550.00.

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.