Marks Group Wealth Management Inc Sells 3,937 Shares of Cavco Industries, Inc. $CVCO

Marks Group Wealth Management Inc lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 38.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,378 shares of the construction company’s stock after selling 3,937 shares during the period. Marks Group Wealth Management Inc’s holdings in Cavco Industries were worth $3,768,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVCO. UBS Group AG increased its holdings in shares of Cavco Industries by 31.5% in the fourth quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after acquiring an additional 9,589 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cavco Industries by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company’s stock worth $18,616,000 after acquiring an additional 13,694 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Cavco Industries in the fourth quarter worth about $9,501,000. Pier Capital LLC increased its holdings in shares of Cavco Industries by 90.8% in the fourth quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock worth $7,150,000 after acquiring an additional 5,761 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Cavco Industries in the third quarter worth about $665,000. Institutional investors own 95.56% of the company’s stock.

Insider Activity

In related news, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Allison Aden sold 129 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $455.76, for a total value of $58,793.04. Following the sale, the executive vice president owned 8,806 shares in the company, valued at $4,013,422.56. The trade was 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 have sold 360 shares of company stock worth $182,127 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CVCO has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, UBS Group initiated coverage on Cavco Industries in a report on Friday. They issued a “buy” rating and a $700.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $625.00.

Cavco Industries Price Performance

CVCO stock opened at $562.96 on Tuesday. The stock has a market capitalization of $4.32 billion, a P/E ratio of 23.49 and a beta of 1.30. The business has a 50-day moving average of $507.48 and a 200-day moving average of $554.66. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01.

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

Cavco Industries Company Profile

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.