Cavco Industries (NASDAQ:CVCO) EVP Sells $58,793.04 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) EVP Allison Aden sold 129 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $455.76, for a total transaction of $58,793.04. Following the transaction, the executive vice president owned 8,806 shares in the company, valued at approximately $4,013,422.56. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $491.49 on Friday. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $713.01. The firm’s 50 day moving average price is $495.17 and its 200-day moving average price is $556.24. The company has a market cap of $3.81 billion, a PE ratio of 21.35 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The company had revenue of $550.13 million during the quarter, compared to analysts’ expectations of $571.06 million. On average, analysts forecast that Cavco Industries, Inc. will post 23.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cavco Industries by 852,093.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after buying an additional 1,797,917 shares during the last quarter. State Street Corp raised its holdings in shares of Cavco Industries by 6.1% in the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after buying an additional 21,837 shares during the last quarter. Boston Partners raised its holdings in shares of Cavco Industries by 82.8% in the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after buying an additional 167,230 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cavco Industries by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock worth $137,569,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Cavco Industries by 53.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock worth $126,166,000 after purchasing an additional 74,542 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

CVCO has been the subject of a number of analyst reports. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings cut shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Finally, Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cavco Industries has a consensus rating of “Moderate Buy” and a consensus 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.