Cavco Industries, Inc. $CVCO Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC cut its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,558 shares of the construction company’s stock after selling 801 shares during the period. Confluence Investment Management LLC’s holdings in Cavco Industries were worth $3,283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVCO. CWM LLC lifted its holdings in shares of Cavco Industries by 44.0% in the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after acquiring an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Cavco Industries by 2,850.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock worth $92,000 after purchasing an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cavco Industries during the first quarter worth $112,000. DAVENPORT & Co LLC acquired a new stake in shares of Cavco Industries in the first quarter valued at $208,000. Finally, GAMMA Investing LLC grew its stake in shares of Cavco Industries by 38.7% in the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock valued at $229,000 after buying an additional 123 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVCO has been the topic of several research reports. Wedbush reissued a “neutral” rating and set a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average target price of $522.50.

Insider Buying and Selling

In other news, CAO Paul Bigbee sold 300 shares of Cavco Industries stock in a transaction on Friday, August 29th. The shares were sold at an average price of $530.45, for a total transaction of $159,135.00. Following the completion of the sale, the chief accounting officer directly owned 774 shares of the company’s stock, valued at approximately $410,568.30. The trade was a 27.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Blount sold 2,500 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the transaction, the director owned 3,126 shares of the company’s stock, valued at approximately $1,623,331.80. The trade was a 44.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,600 shares of company stock worth $2,820,884 over the last 90 days. 1.60% of the stock is owned by insiders.

Cavco Industries Price Performance

CVCO opened at $544.99 on Friday. The business has a fifty day moving average price of $473.78 and a 200 day moving average price of $477.48. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $568.97. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 23.62 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.61. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The business had revenue of $556.86 million during the quarter, compared to analysts’ expectations of $524.97 million. On average, research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Cavco Industries Company 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.