Mutual of America Capital Management LLC Sells 35 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Mutual of America Capital Management LLC trimmed its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,241 shares of the construction company’s stock after selling 35 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cavco Industries were worth $531,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CVCO. Boston Trust Walden Corp lifted its position in Cavco Industries by 0.8% during the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after purchasing an additional 1,541 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after buying an additional 57,278 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Cavco Industries by 1.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company’s stock valued at $24,832,000 after buying an additional 800 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Cavco Industries by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 34,448 shares of the construction company’s stock worth $11,925,000 after acquiring an additional 331 shares during the period. Finally, AYAL Capital Advisors Ltd boosted its position in shares of Cavco Industries by 61.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after acquiring an additional 11,361 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the transaction, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at $502,497.63. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the transaction, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,313 shares of company stock valued at $1,780,681. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $521.23 on Wednesday. Cavco Industries, Inc. has a one year low of $271.48 and a one year high of $544.08. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 29.46 and a beta of 1.24. The firm has a 50 day simple moving average of $444.55 and a 200 day simple moving average of $400.17.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter last year, the business posted $4.76 EPS. As a group, analysts expect that Cavco Industries, Inc. will post 18 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on CVCO. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Wedbush boosted their price target on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Finally, Craig Hallum raised their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

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.