Prudential Financial Inc. Buys 984 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Prudential Financial Inc. lifted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,887 shares of the construction company’s stock after acquiring an additional 984 shares during the quarter. Prudential Financial Inc.’s holdings in Cavco Industries were worth $5,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVCO. Atom Investors LP bought a new position in Cavco Industries during the 3rd quarter worth approximately $7,572,000. Raymond James Financial Inc. acquired a new stake in shares of Cavco Industries during the fourth quarter worth $5,967,000. Geode Capital Management LLC raised its stake in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after buying an additional 12,822 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Cavco Industries by 55.3% in the third quarter. JPMorgan Chase & Co. now owns 35,887 shares of the construction company’s stock valued at $15,368,000 after buying an additional 12,780 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Cavco Industries during the fourth quarter valued at $5,376,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CVCO. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Wedbush reissued a “neutral” rating and issued a $550.00 price target (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Cavco Industries Trading Up 1.1 %

NASDAQ:CVCO opened at $519.63 on Tuesday. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 25.57 and a beta of 1.34. The firm has a fifty day simple moving average of $514.78 and a two-hundred day simple moving average of $475.94.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 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%. Equities analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the sale, the director now owns 15,286 shares in the company, valued at approximately $8,084,459.68. The trade was a 20.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Blount sold 750 shares of the company’s stock in a transaction 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. The trade was a 20.91 % decrease in their position. The disclosure for this sale can be found here. Insiders 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.

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.