Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC reduced its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 848 shares of the construction company’s stock after selling 172 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Cavco Industries were worth $363,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CVCO. Blue Trust Inc. boosted its position in shares of Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares during the period. Avior Wealth Management LLC acquired a new stake in shares of Cavco Industries in the 3rd quarter valued at about $64,000. GAMMA Investing LLC boosted its position in shares of Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Cavco Industries in the 2nd quarter valued at about $138,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CVCO shares. Craig Hallum upped their target price on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wedbush downgraded Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research note on Tuesday, December 3rd. Finally, StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Activity

In other news, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at $502,497.63. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now directly owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 350 shares of company stock valued at $171,472 in the last three months. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Trading Down 2.8 %

Shares of CVCO stock opened at $484.66 on Friday. The business’s 50 day moving average is $462.71 and its two-hundred day moving average is $411.32. Cavco Industries, Inc. has a twelve month low of $304.10 and a twelve month high of $544.08. The company has a market capitalization of $3.93 billion, a P/E ratio of 27.40 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period last year, the business posted $4.76 EPS. As a group, equities analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

About Cavco Industries

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.