Bessemer Group Inc. Has $22.32 Million Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Bessemer Group Inc. increased its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,017 shares of the construction company’s stock after purchasing an additional 2,040 shares during the period. Bessemer Group Inc.’s holdings in Cavco Industries were worth $22,318,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Cavco Industries in the 4th quarter valued at $5,967,000. Cannell Capital LLC boosted its position in shares of Cavco Industries by 24.3% during the 4th quarter. Cannell Capital LLC now owns 83,958 shares of the construction company’s stock valued at $37,465,000 after acquiring an additional 16,407 shares in the last quarter. Invesco Ltd. boosted its position in shares of Cavco Industries by 18.7% during the 4th quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock valued at $81,418,000 after acquiring an additional 28,730 shares in the last quarter. Bank of Montreal Can increased its stake in Cavco Industries by 10.4% in the fourth quarter. Bank of Montreal Can now owns 1,074 shares of the construction company’s stock valued at $479,000 after acquiring an additional 101 shares during the period. Finally, FMR LLC raised its position in Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock worth $132,237,000 after purchasing an additional 160,899 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVCO shares. Wedbush reaffirmed a “neutral” rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd.

Insider Activity at Cavco Industries

In other news, Director Susan L. Blount sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total transaction of $1,014,360.00. Following the sale, the director now directly owns 2,836 shares of the company’s stock, valued at $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Greenblatt sold 4,000 shares of the business’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 completion of the transaction, the director now owns 15,286 shares of the company’s stock, valued at $8,084,459.68. This trade represents a 20.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,644 shares of company stock valued at $4,494,608 over the last ninety days. 1.60% of the stock is owned by insiders.

Cavco Industries Trading Down 4.5 %

NASDAQ:CVCO opened at $466.99 on Friday. The stock has a market capitalization of $3.79 billion, a P/E ratio of 22.98 and a beta of 1.19. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $544.08. The firm has a 50 day moving average of $515.37 and a 200-day moving average of $479.05.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

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.