Royce & Associates LP Reduces Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Royce & Associates LP reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,307 shares of the construction company’s stock after selling 1,539 shares during the quarter. Royce & Associates LP’s holdings in Cavco Industries were worth $21,543,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its holdings in Cavco Industries by 507.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock valued at $3,139,000 after buying an additional 7,576 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Cavco Industries by 37.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock valued at $3,274,000 after buying an additional 2,558 shares in the last quarter. Quest Partners LLC purchased a new stake in Cavco Industries in the 2nd quarter valued at $931,000. Blue Trust Inc. grew its holdings in Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after buying an additional 90 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Cavco Industries by 7.1% in the 1st quarter. Bessemer Group Inc. now owns 34,252 shares of the construction company’s stock valued at $13,668,000 after purchasing an additional 2,263 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 0.1 %

Shares of Cavco Industries stock opened at $465.23 on Friday. The business’s fifty day simple moving average is $432.05 and its 200-day simple moving average is $393.22. Cavco Industries, Inc. has a 52 week low of $271.48 and a 52 week high of $484.80. The firm has a market cap of $3.77 billion, a PE ratio of 26.30 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

CVCO has been the topic of several recent analyst reports. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wedbush upped their price target on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, Craig Hallum upped their price target on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Insider Buying and Selling

In related news, Director Julia Sze sold 125 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the transaction, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. This represents a 7.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,213 shares of company stock valued at $1,729,458. Corporate insiders own 1.60% of the company’s stock.

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.