Prudential Financial Inc. Decreases Stake in Cavco Industries, Inc. $CVCO

Prudential Financial Inc. decreased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 23.8% in the second quarter, Holdings Channel reports. The fund owned 8,320 shares of the construction company’s stock after selling 2,594 shares during the period. Prudential Financial Inc.’s holdings in Cavco Industries were worth $3,856,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in shares of Cavco Industries by 151.4% in the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock valued at $38,000 after purchasing an additional 53 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Cavco Industries by 1,814.3% during the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after buying an additional 127 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cavco Industries by 2,850.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock valued at $92,000 after buying an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Cavco Industries in the 1st quarter worth $112,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Cavco Industries during the 2nd quarter valued at about $156,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $568.99, for a total transaction of $284,495.00. Following the completion of the transaction, the director directly owned 6,669 shares in the company, valued at $3,794,594.31. This trade represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Price Performance

Shares of CVCO stock opened at $584.22 on Tuesday. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $613.77. The firm has a market cap of $4.56 billion, a PE ratio of 25.32 and a beta of 1.21. The company has a 50-day moving average of $556.70 and a two-hundred day moving average of $498.22.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, topping the consensus estimate of $6.30 by $0.25. The firm had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Analyst Ratings Changes

CVCO has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, November 24th. Zacks Research upgraded shares of Cavco Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cavco Industries currently has an average rating of “Buy” and a consensus target price of $550.00.

Cavco Industries Company Profile

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.