Cavco Industries, Inc. $CVCO Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 18,160.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 913 shares of the construction company’s stock after acquiring an additional 908 shares during the period. Provenance Wealth Advisors LLC’s holdings in Cavco Industries were worth $512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVCO. Fifth Third Bancorp increased its stake in shares of Cavco Industries by 599.0% during the first quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock worth $1,367,000 after purchasing an additional 2,420 shares in the last quarter. Robotti Robert acquired a new position in shares of Cavco Industries during the 2nd quarter worth about $19,903,000. California State Teachers Retirement System lifted its stake in Cavco Industries by 24.1% in the 1st quarter. California State Teachers Retirement System now owns 9,319 shares of the construction company’s stock valued at $4,513,000 after buying an additional 1,808 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in Cavco Industries in the 2nd quarter valued at about $5,412,688. Finally, The Manufacturers Life Insurance Company purchased a new position in Cavco Industries in the 2nd quarter valued at about $2,305,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total value of $202,464.00. Following the completion of the sale, the chief accounting officer owned 736 shares in the company, valued at approximately $435,712. This represents a 31.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Seth G. Schuknecht sold 542 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $685.00, for a total transaction of $371,270.00. Following the completion of the transaction, the executive vice president directly owned 1,323 shares in the company, valued at $906,255. This trade represents a 29.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,343 shares of company stock worth $884,417. 1.70% of the stock is owned by insiders.

Cavco Industries Stock Down 5.1%

Shares of CVCO opened at $643.97 on Friday. Cavco Industries, Inc. has a 52-week low of $443.33 and a 52-week high of $713.01. The stock has a market cap of $4.91 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.84 and a beta of 1.29. The firm’s fifty day moving average is $555.15 and its two-hundred day moving average is $551.48.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 29th. The construction company reported $7.17 EPS for the quarter, beating analysts’ consensus estimates of $5.52 by $1.65. The business had revenue of $656.38 million during the quarter, compared to analysts’ expectations of $613.12 million. Cavco Industries had a net margin of 7.68% and a return on equity of 16.60%. As a group, research analysts anticipate that Cavco Industries, Inc. will post 24.62 earnings per share for the current year.

Analysts Set New Price Targets

CVCO has been the topic of several research analyst reports. Weiss Ratings upgraded Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Zelman & Associates lowered Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and set a $735.00 target price (up from $720.00) on shares of Cavco Industries in a report on Monday. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Northland Securities began coverage on Cavco Industries in a research report on Wednesday, October 28th. They issued an “outperform” rating and a $650.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $695.00.

About Cavco Industries

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.