Cavco Industries, Inc. $CVCO Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 69.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,234 shares of the construction company’s stock after selling 7,489 shares during the period. Truist Financial Corp’s holdings in Cavco Industries were worth $1,910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New York State Teachers Retirement System lifted its position in shares of Cavco Industries by 4.3% during the 4th quarter. New York State Teachers Retirement System now owns 2,697 shares of the construction company’s stock valued at $1,593,000 after acquiring an additional 111 shares during the last quarter. M&T Bank Corp acquired a new stake in Cavco Industries during the 4th quarter valued at $202,000. Pictet Asset Management Holding SA raised its stake in Cavco Industries by 25.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,249 shares of the construction company’s stock valued at $738,000 after purchasing an additional 254 shares during the period. Huntleigh Advisors Inc. raised its stake in Cavco Industries by 5.4% during the 4th quarter. Huntleigh Advisors Inc. now owns 1,731 shares of the construction company’s stock valued at $1,023,000 after purchasing an additional 89 shares during the period. Finally, ST Germain D J Co. Inc. acquired a new stake in Cavco Industries during the 4th quarter valued at $180,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Trading Up 3.0%

Shares of NASDAQ:CVCO opened at $476.59 on Friday. The stock has a market capitalization of $3.70 billion, a PE ratio of 20.70 and a beta of 1.31. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $713.01. The firm has a fifty day moving average price of $502.41 and a 200 day moving average price of $558.49.

Wall Street Analysts Forecast Growth

CVCO has been the topic of several recent analyst reports. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings downgraded shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $550.00.

Cavco Industries 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.