Cavco Industries, Inc. $CVCO Holdings Trimmed by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 11.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,085 shares of the construction company’s stock after selling 525 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.05% of Cavco Industries worth $1,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR boosted its position in shares of Cavco Industries by 3.8% during the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company’s stock valued at $327,000 after purchasing an additional 23 shares in the last quarter. HighTower Advisors LLC lifted its stake in Cavco Industries by 2.6% during the first quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company’s stock valued at $816,000 after purchasing an additional 40 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Cavco Industries by 7.5% during the first quarter. Evergreen Capital Management LLC now owns 573 shares of the construction company’s stock worth $298,000 after buying an additional 40 shares in the last quarter. Arizona State Retirement System boosted its holdings in Cavco Industries by 1.9% during the first quarter. Arizona State Retirement System now owns 2,197 shares of the construction company’s stock worth $1,142,000 after buying an additional 41 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Cavco Industries by 1.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 3,773 shares of the construction company’s stock worth $1,639,000 after buying an additional 41 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total value of $240,275.00. Following the transaction, the director owned 7,169 shares in the company, valued at $3,445,062.95. This represents a 6.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Blount sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the sale, the director owned 3,126 shares of the company’s stock, valued at approximately $1,623,331.80. This represents a 44.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,600 shares of company stock valued at $2,820,884 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Stock Down 0.0%

CVCO opened at $504.00 on Friday. The firm has a market capitalization of $3.99 billion, a P/E ratio of 21.85 and a beta of 1.23. The stock has a fifty day moving average of $546.02 and a 200-day moving average of $488.02. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $602.57.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $6.30 by $0.25. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. On average, analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cavco Industries in a research report on Wednesday, October 8th. Wedbush reaffirmed a “neutral” rating and set a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. Finally, Wall Street Zen lowered Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $522.50.

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.