HighTower Advisors LLC Purchases 73 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

HighTower Advisors LLC increased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,518 shares of the construction company’s stock after buying an additional 73 shares during the period. HighTower Advisors LLC’s holdings in Cavco Industries were worth $649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Cavco Industries by 7.0% in the 3rd quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after acquiring an additional 8,829 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cavco Industries by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after purchasing an additional 5,935 shares in the last quarter. Fisher Asset Management LLC increased its position in Cavco Industries by 8.5% in the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Cavco Industries by 1,610.3% during 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 purchasing an additional 57,278 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Cavco Industries by 1.4% during the third quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company’s stock valued at $24,832,000 after purchasing an additional 800 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on CVCO shares. Craig Hallum lifted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday. Finally, Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a research note on Tuesday, December 3rd.

Insider Buying and Selling

In related news, Director Julia Sze sold 125 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now owns 2,086 shares in the company, valued at approximately $1,012,878.16. The trade was a 26.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,100 shares of company stock valued at $535,642 in the last ninety days. 1.60% of the stock is owned by company insiders.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $442.22 on Friday. The firm has a market capitalization of $3.59 billion, a PE ratio of 25.00 and a beta of 1.29. The stock’s fifty day moving average is $467.14 and its 200 day moving average is $415.36. Cavco Industries, Inc. has a fifty-two week low of $304.10 and a fifty-two week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating 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 business had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. During the same quarter in the prior year, the firm posted $4.76 earnings per share. Equities analysts forecast that Cavco Industries, Inc. will post 18 EPS for the current year.

Cavco Industries Company 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.