Zhang Financial LLC Purchases Shares of 738 Cavco Industries, Inc. $CVCO

Zhang Financial LLC purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 738 shares of the construction company’s stock, valued at approximately $321,000.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in Cavco Industries by 151.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock valued at $38,000 after purchasing an additional 53 shares during the last quarter. CWM LLC boosted its stake in shares of Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after buying an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cavco Industries by 2,850.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock worth $92,000 after buying an additional 171 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Cavco Industries in the first quarter worth about $112,000. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Cavco Industries in the second quarter worth about $156,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insiders Place Their Bets

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total transaction of $240,275.00. Following the transaction, the director owned 7,169 shares in the company, valued at approximately $3,445,062.95. This represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 300 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the transaction, the chief accounting officer owned 774 shares in the company, valued at $410,568.30. This represents a 27.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,600 shares of company stock worth $2,820,884. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVCO has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Cavco Industries in a research note on Wednesday, October 8th. Wedbush restated a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th. Finally, Wall Street Zen downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $522.50.

Cavco Industries Trading Down 5.2%

Shares of CVCO stock opened at $558.02 on Wednesday. The company has a market capitalization of $4.42 billion, a P/E ratio of 24.19 and a beta of 1.23. The business’s 50 day moving average is $545.30 and its two-hundred day moving average is $487.67. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $602.57.

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