Westbourne Investment Advisors Inc. Has $7.32 Million Stock Position in Cavco Industries, Inc. $CVCO

Westbourne Investment Advisors Inc. decreased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 12.1% in the 4th quarter, HoldingsChannel reports. The fund owned 12,388 shares of the construction company’s stock after selling 1,712 shares during the period. Cavco Industries makes up about 2.0% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 16th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Cavco Industries were worth $7,318,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Cavco Industries by 6.1% in the 2nd quarter. State Street Corp now owns 380,682 shares of the construction company’s stock valued at $165,380,000 after acquiring an additional 21,837 shares in the last quarter. Boston Partners grew its stake in shares of Cavco Industries by 82.8% in the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock valued at $213,866,000 after purchasing an additional 167,230 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Cavco Industries by 0.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 147,036 shares of the construction company’s stock valued at $85,388,000 after purchasing an additional 963 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Cavco Industries by 6.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 81,786 shares of the construction company’s stock valued at $47,496,000 after purchasing an additional 5,200 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Cavco Industries by 22.0% in the 3rd quarter. Bessemer Group Inc. now owns 66,614 shares of the construction company’s stock valued at $38,684,000 after purchasing an additional 11,996 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded up $1.24 on Tuesday, hitting $524.78. The stock had a trading volume of 11,825 shares, compared to its average volume of 196,621. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $713.01. The firm’s 50 day moving average price is $526.47 and its 200-day moving average price is $564.69. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 22.79 and a beta of 1.33.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 29th. The construction company reported $5.58 EPS for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The firm had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. As a group, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CEO William C. Boor acquired 1,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of $495.00 per share, for a total transaction of $495,000.00. Following the transaction, the chief executive officer owned 48,022 shares in the company, valued at $23,770,890. This trade represents a 2.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Moster acquired 300 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was acquired at an average price of $456.23 per share, with a total value of $136,869.00. Following the transaction, the director owned 2,976 shares in the company, valued at approximately $1,357,740.48. The trade was a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,800 shares of company stock valued at $866,592 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

CVCO has been the topic of a number of analyst reports. Weiss Ratings cut Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Zelman & Associates upgraded shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned 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 a consensus price target of $550.00.

Cavco Industries 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.