Insider Selling: Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells 4,000 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the sale, the director now owns 15,286 shares in the company, valued at $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cavco Industries Stock Down 1.7 %

Shares of Cavco Industries stock opened at $520.32 on Monday. The business has a 50-day moving average price of $494.56 and a 200 day moving average price of $463.46. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08. The firm has a market cap of $4.22 billion, a P/E ratio of 25.61 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVCO. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Wedbush reiterated a “neutral” rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Institutional Trading of Cavco Industries

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company’s stock worth $132,237,000 after buying an additional 160,899 shares during the last quarter. Janus Henderson Group PLC raised its stake in Cavco Industries by 1,030.9% during the fourth quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company’s stock worth $32,371,000 after acquiring an additional 66,120 shares during the period. Loomis Sayles & Co. L P bought a new position in Cavco Industries in the fourth quarter worth about $20,382,000. Norges Bank acquired a new position in Cavco Industries in the fourth quarter valued at approximately $17,730,000. Finally, Invesco Ltd. boosted its stake in Cavco Industries by 18.7% in the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock valued at $81,418,000 after acquiring an additional 28,730 shares during the period. Institutional investors own 95.56% of the company’s stock.

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.