Swiss National Bank Sells 200 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Swiss National Bank lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,600 shares of the construction company’s stock after selling 200 shares during the period. Swiss National Bank owned 0.18% of Cavco Industries worth $6,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVCO. Boston Trust Walden Corp grew its stake in Cavco Industries by 0.8% in the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after purchasing an additional 1,541 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after buying an additional 57,278 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Cavco Industries by 1.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company’s stock worth $24,832,000 after acquiring an additional 800 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Cavco Industries by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 34,448 shares of the construction company’s stock valued at $11,925,000 after acquiring an additional 331 shares during the period. Finally, AYAL Capital Advisors Ltd boosted its stake in Cavco Industries by 61.4% during the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after acquiring an additional 11,361 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 2.2 %

NASDAQ:CVCO opened at $521.23 on Wednesday. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 29.46 and a beta of 1.24. The company’s 50 day moving average price is $444.55 and its 200-day moving average price is $400.17. Cavco Industries, Inc. has a 52 week low of $271.48 and a 52 week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. During the same period last year, the business posted $4.76 EPS. As a group, sell-side analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insider Buying and Selling

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, September 12th. The shares were 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 of the company’s stock, valued at approximately $2,679,032.40. The trade was a 37.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the business’s 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 approximately $433,913.40. This represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,313 shares of company stock worth $1,780,681. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.