Covestor Ltd Has $90,000 Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Covestor Ltd trimmed its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 15.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 201 shares of the construction company’s stock after selling 36 shares during the period. Covestor Ltd’s holdings in Cavco Industries were worth $90,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SkyView Investment Advisors LLC raised its stake in Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after acquiring an additional 31 shares during the period. GAMMA Investing LLC increased its holdings in shares of Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after purchasing an additional 42 shares during the last quarter. Xponance Inc. raised its position in shares of Cavco Industries by 9.4% in the fourth quarter. Xponance Inc. now owns 596 shares of the construction company’s stock valued at $266,000 after purchasing an additional 51 shares during the period. Blue Trust Inc. lifted its stake 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 buying an additional 55 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Cavco Industries by 8.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 720 shares of the construction company’s stock worth $321,000 after buying an additional 55 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cavco Industries news, insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $538.00, for a total value of $538,000.00. Following the transaction, the insider now directly owns 1,176 shares of the company’s stock, valued at $632,688. This trade represents a 45.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the sale, the director now directly owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. This trade represents a 20.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,644 shares of company stock valued at $4,494,608 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Wedbush reiterated a “neutral” rating and set a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Cavco Industries Stock Performance

CVCO stock opened at $469.83 on Monday. Cavco Industries, Inc. has a 52 week low of $331.08 and a 52 week high of $544.08. The company has a market capitalization of $3.81 billion, a PE ratio of 23.12 and a beta of 1.19. The company’s 50-day simple moving average is $514.45 and its 200 day simple moving average is $479.75.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

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.