Cavco Industries, Inc. (NASDAQ:CVCO) Stake Lowered by Legal & General Group Plc

Legal & General Group Plc decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 22,207 shares of the construction company’s stock after selling 301 shares during the period. Legal & General Group Plc’s holdings in Cavco Industries were worth $9,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock valued at $132,237,000 after buying an additional 160,899 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Cavco Industries in the 4th quarter worth about $20,382,000. Norges Bank bought a new stake in Cavco Industries in the 4th quarter valued at about $17,730,000. Invesco Ltd. boosted its stake in Cavco Industries by 18.7% during the 4th quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock valued at $81,418,000 after purchasing an additional 28,730 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Cavco Industries in the 4th quarter worth about $5,967,000. 95.56% of the stock is currently owned by institutional investors.

Insider Activity

In other Cavco Industries news, insider Matthew A. Nino sold 894 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total value of $472,952.82. Following the sale, the insider now directly owns 771 shares in the company, valued at approximately $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $538.00, for a total transaction of $538,000.00. Following the transaction, the insider now owns 1,176 shares of the company’s stock, valued at approximately $632,688. This trade represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,894 shares of company stock worth $4,140,833 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVCO has been the subject of several analyst reports. Wedbush reiterated a “neutral” rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd.

Cavco Industries Trading Up 1.8 %

CVCO stock opened at $477.75 on Friday. The firm’s 50-day moving average is $509.86 and its two-hundred day moving average is $480.30. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 23.51 and a beta of 1.19. Cavco Industries, Inc. has a 52 week low of $331.08 and a 52 week high of $544.08.

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

Cavco Industries 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.