Geode Capital Management LLC Buys 1,018 Shares of Cavco Industries, Inc. $CVCO

Geode Capital Management LLC increased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 232,847 shares of the construction company’s stock after acquiring an additional 1,018 shares during the period. Geode Capital Management LLC’s holdings in Cavco Industries were worth $137,569,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Danske Bank A S bought a new stake in Cavco Industries during the third quarter worth about $58,000. CIBC Private Wealth Group LLC raised its holdings in Cavco Industries by 72.5% during the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after acquiring an additional 50 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after acquiring an additional 65 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Cavco Industries by 186.0% during the fourth quarter. Clearstead Advisors LLC now owns 123 shares of the construction company’s stock worth $73,000 after acquiring an additional 80 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Cavco Industries by 27.4% during the third quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock worth $109,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Up 1.1%

NASDAQ:CVCO opened at $550.29 on Friday. The stock’s 50 day moving average price is $504.39 and its two-hundred day moving average price is $554.46. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 22.96 and a beta of 1.30. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.12. The firm had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Equities research analysts expect that Cavco Industries, Inc. will post 25 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $550.00.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares in the company, valued at $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Allison Aden sold 129 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the completion of the sale, the executive vice president owned 8,806 shares in the company, valued at $4,013,422.56. This represents a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 360 shares of company stock worth $182,127 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.