Truist Financial Corp Raises Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Truist Financial Corp lifted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 12,293 shares of the construction company’s stock after purchasing an additional 96 shares during the period. Truist Financial Corp’s holdings in Cavco Industries were worth $5,486,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVCO. Farther Finance Advisors LLC grew its holdings in shares of Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after purchasing an additional 82 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of Cavco Industries during the 3rd quarter worth about $64,000. Blue Trust Inc. grew its holdings in shares of Cavco Industries by 90.0% during the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after purchasing an additional 90 shares during the period. GAMMA Investing LLC grew its holdings in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after purchasing an additional 42 shares during the period. Finally, KBC Group NV grew its holdings in shares of Cavco Industries by 35.2% during the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 1.8 %

NASDAQ CVCO opened at $520.81 on Friday. The business has a 50 day moving average price of $480.38 and a two-hundred day moving average price of $451.99. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08. The stock has a market cap of $4.22 billion, a PE ratio of 25.63 and a beta of 1.35.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CVCO. Wedbush restated a “neutral” rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Craig Hallum upped their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the transaction, the director now directly owns 2,836 shares of the company’s stock, valued at $1,337,741.20. This represents a 20.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Matthew A. Nino sold 894 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total value of $472,952.82. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 5,519 shares of company stock valued at $2,806,172 in the last three months. Corporate insiders own 1.60% of the company’s stock.

About Cavco Industries

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.