Handelsbanken Fonder AB Buys 22,300 Shares of Cavco Industries, Inc. $CVCO

Handelsbanken Fonder AB increased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 41.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,586 shares of the construction company’s stock after buying an additional 22,300 shares during the quarter. Handelsbanken Fonder AB owned 0.97% of Cavco Industries worth $33,271,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in shares of Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after acquiring an additional 53 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Cavco Industries by 1,814.3% during the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after purchasing an additional 127 shares during the last quarter. CWM LLC grew its position in 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 purchasing an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Cavco Industries by 2,850.0% in the 1st 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. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cavco Industries in the 1st quarter valued at about $112,000. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Trading Up 5.4%

Cavco Industries stock opened at $573.39 on Friday. The business’s 50 day simple moving average is $552.10 and its 200 day simple moving average is $495.60. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $602.57. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 24.85 and a beta of 1.21.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.30 by $0.25. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The firm had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In other news, CAO Paul Bigbee sold 300 shares of Cavco Industries stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $530.45, for a total value of $159,135.00. Following the completion of the transaction, the chief accounting officer owned 774 shares in the company, valued at $410,568.30. This trade represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $568.99, for a total transaction of $284,495.00. Following the completion of the sale, the director directly owned 6,669 shares in the company, valued at approximately $3,794,594.31. This trade represents a 6.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVCO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cavco Industries in a report on Monday. Wedbush reissued a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Finally, Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cavco Industries presently has an average rating of “Buy” and an average target price of $550.00.

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.