Watchman Group Inc. Decreases Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Watchman Group Inc. lowered its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 6.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,125 shares of the construction company’s stock after selling 617 shares during the quarter. Watchman Group Inc.’s holdings in Cavco Industries were worth $4,072,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Cavco Industries during the 4th quarter valued at about $67,000. Smartleaf Asset Management LLC boosted its position in Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after acquiring an additional 128 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Cavco Industries by 28.9% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after acquiring an additional 55 shares during the period. GAMMA Investing LLC raised its position in shares of Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after acquiring an additional 42 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Cavco Industries by 35.2% in the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares during the period. Institutional investors own 95.56% of the company’s stock.

Insiders Place Their Bets

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jack S. Brandom sold 1,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $538.00, for a total transaction of $538,000.00. Following the completion of the transaction, the insider now owns 1,176 shares in the company, valued at $632,688. This trade represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,644 shares of company stock valued at $4,494,608. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Price Performance

CVCO opened at $513.96 on Friday. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $544.08. The stock has a 50-day moving average price of $513.92 and a 200-day moving average price of $474.70. The firm has a market cap of $4.17 billion, a PE ratio of 25.29 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly 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 net margin of 8.75% and a return on equity of 16.17%. As a group, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVCO shares. Wedbush restated a “neutral” rating and set a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd.

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.