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

Confluence Investment Management LLC reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,603 shares of the construction company’s stock after selling 222 shares during the period. Confluence Investment Management LLC owned approximately 0.12% of Cavco Industries worth $4,285,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CVCO. Geode Capital Management LLC raised its stake in shares of Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares during the period. FMR LLC raised its position in Cavco Industries by 7.0% in the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock valued at $58,002,000 after purchasing an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Cavco Industries by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock worth $46,872,000 after purchasing an additional 5,935 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Cavco Industries by 8.5% during the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after buying an additional 5,620 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Cavco Industries by 1,610.3% in the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after buying an additional 57,278 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insider Buying and Selling

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $485.56, for a total value of $364,170.00. Following the transaction, the director now directly owns 2,086 shares in the company, valued at $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julia Sze sold 125 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,100 shares of company stock worth $535,642. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

Shares of CVCO opened at $439.07 on Friday. The stock has a 50-day simple moving average of $470.43 and a 200-day simple moving average of $421.99. Cavco Industries, Inc. has a 1 year low of $304.10 and a 1 year high of $544.08. The stock has a market capitalization of $3.56 billion, a PE ratio of 24.82 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The company had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same quarter in the previous year, the business posted $4.76 EPS. Analysts predict that Cavco Industries, Inc. will post 18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVCO shares. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research note on Tuesday, December 3rd. Craig Hallum raised their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

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.