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

First Eagle Investment Management LLC cut its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 26.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,128 shares of the construction company’s stock after selling 2,900 shares during the period. First Eagle Investment Management LLC’s holdings in Cavco Industries were worth $3,627,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVCO. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries in the third quarter valued at about $64,000. Smartleaf Asset Management LLC grew its holdings in Cavco Industries by 387.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after purchasing an additional 128 shares during the period. Blue Trust Inc. grew its holdings in Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC grew its holdings in Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after purchasing an additional 42 shares during the period. Finally, KBC Group NV grew its holdings in Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the transaction, the director now owns 2,836 shares in the company, valued at approximately $1,337,741.20. This trade represents a 20.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jack S. Brandom sold 1,000 shares of Cavco Industries stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $538.00, for a total value of $538,000.00. Following the transaction, the insider now owns 1,176 shares in the company, valued at approximately $632,688. The trade was a 45.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,644 shares of company stock worth $4,494,608 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CVCO has been the topic of several research analyst reports. Wedbush reissued a “neutral” rating and issued a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Cavco Industries Price Performance

NASDAQ CVCO opened at $506.83 on Friday. The company has a market cap of $4.11 billion, a PE ratio of 24.94 and a beta of 1.34. The stock’s 50 day simple moving average is $500.43 and its 200-day simple moving average is $466.61. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year 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, beating 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%. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal 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.