Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,825 shares of the construction company’s stock after selling 409 shares during the period. Confluence Investment Management LLC owned 0.12% of Cavco Industries worth $4,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVCO. Harbor Capital Advisors Inc. boosted its stake in shares of Cavco Industries by 507.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock worth $3,139,000 after purchasing an additional 7,576 shares during the last quarter. First Eagle Investment Management LLC grew its stake in Cavco Industries by 28.8% in the 1st quarter. First Eagle Investment Management LLC now owns 12,328 shares of the construction company’s stock worth $4,920,000 after acquiring an additional 2,760 shares during the period. Thrivent Financial for Lutherans raised 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 acquiring an additional 2,558 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Cavco Industries during the 2nd quarter worth $931,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Cavco Industries by 7.1% during the first quarter. Bessemer Group Inc. now owns 34,252 shares of the construction company’s stock worth $13,668,000 after purchasing an additional 2,263 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 3.7 %

CVCO stock opened at $475.98 on Friday. The stock has a 50-day moving average price of $426.59 and a two-hundred day moving average price of $390.44. The company has a market cap of $3.86 billion, a PE ratio of 26.91 and a beta of 1.24. Cavco Industries, Inc. has a 12-month low of $250.75 and a 12-month high of $476.95.

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 analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The firm had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same quarter in the prior year, the company earned $4.76 EPS. Equities analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the sale, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at $433,913.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares in the company, valued at $2,679,032.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CVCO shares. Craig Hallum increased their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wedbush increased their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Finally, StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

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.