Cavco Industries (NASDAQ:CVCO) CAO Paul Bigbee Sells 200 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the transaction, the chief accounting officer owned 1,105 shares of the company’s stock, valued at $594,213.75. This trade represents a 15.33% 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.

Cavco Industries Price Performance

NASDAQ CVCO opened at $534.89 on Tuesday. The business has a 50 day simple moving average of $499.76 and a 200 day simple moving average of $554.67. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The stock has a market capitalization of $4.11 billion, a P/E ratio of 22.31 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping the consensus estimate of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The business had revenue of $550.13 million during the quarter, compared to analysts’ expectations of $571.06 million. Equities analysts expect that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVCO. Northwestern Mutual Wealth Management Co. lifted 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 valued at $1,062,226,000 after purchasing an additional 1,797,917 shares in the last quarter. Boston Partners lifted 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 valued at $213,866,000 after purchasing an additional 167,230 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cavco Industries by 53.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock valued at $126,166,000 after purchasing an additional 74,542 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Cavco Industries by 122.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company’s stock valued at $43,806,000 after purchasing an additional 40,832 shares in the last quarter. Finally, Bamco Inc. NY bought a new position in shares of Cavco Industries in the fourth quarter valued at approximately $21,903,000. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CVCO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Zelman & Associates raised Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average price target of $550.00.

About Cavco Industries

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.