Cannell & Spears LLC Sells 4,033 Shares of Cavco Industries, Inc. $CVCO

Cannell & Spears LLC reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 83.6% in the third quarter, Holdings Channel reports. The firm owned 791 shares of the construction company’s stock after selling 4,033 shares during the period. Cannell & Spears LLC’s holdings in Cavco Industries were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVCO. Salomon & Ludwin LLC purchased a new stake in shares of Cavco Industries in the third quarter worth $31,000. Osaic Holdings Inc. grew its position in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares in the last quarter. Mather Group LLC. purchased a new position in Cavco Industries during the third quarter worth about $63,000. Northwestern Mutual Wealth Management Co. increased its stake in Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Cavco Industries in the 3rd quarter worth about $86,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Up 3.0%

NASDAQ CVCO opened at $511.29 on Tuesday. The stock’s 50-day simple moving average is $589.78 and its two-hundred day simple moving average is $573.62. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $713.01. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 22.21 and a beta of 1.27.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The firm had revenue of $580.99 million during the quarter, compared to analysts’ expectations of $593.37 million. On average, equities analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, CEO William C. Boor purchased 1,000 shares of Cavco Industries stock in a transaction on Wednesday, February 4th. The shares were acquired at an average cost of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the transaction, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. The trade was a 2.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven W. Moster purchased 300 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were acquired at an average cost of $456.23 per share, for a total transaction of $136,869.00. Following the completion of the purchase, the director directly owned 2,976 shares of the company’s stock, valued at approximately $1,357,740.48. This represents a 11.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 1,800 shares of company stock worth $866,592 in the last quarter. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVCO. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Zacks Research cut shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings lowered shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cavco Industries presently has a consensus rating of “Hold” and an average 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.