Parkside Financial Bank & Trust Raises Stake in Cavco Industries, Inc. $CVCO

Parkside Financial Bank & Trust lifted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 1,814.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134 shares of the construction company’s stock after purchasing an additional 127 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Cavco Industries were worth $58,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVCO. Farther Finance Advisors LLC grew its position in Cavco Industries by 151.4% during the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after buying an additional 53 shares during the period. CWM LLC boosted its stake in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after acquiring an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 acquiring an additional 171 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Cavco Industries in the 1st quarter valued at approximately $112,000. Finally, ST Germain D J Co. Inc. acquired a new position in Cavco Industries during the second quarter worth $156,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insider Activity

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total value of $240,275.00. Following the completion of the transaction, the director directly owned 7,169 shares in the company, valued at approximately $3,445,062.95. The trade was a 6.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 300 shares of the stock in a transaction 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 directly owned 774 shares in the company, valued at approximately $410,568.30. This represents a 27.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,600 shares of company stock valued at $2,820,884 over the last 90 days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wedbush reissued a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. Zacks Research upgraded shares of Cavco Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cavco Industries in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $550.00.

Cavco Industries Stock Up 0.6%

Shares of NASDAQ:CVCO opened at $576.48 on Wednesday. The company has a market capitalization of $4.50 billion, a P/E ratio of 24.99 and a beta of 1.21. The stock’s fifty day simple moving average is $551.02 and its 200-day simple moving average is $492.64. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $602.57.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $6.30 by $0.25. The firm had revenue of $556.53 million during the quarter, compared to the consensus estimate of $542.92 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

About Cavco Industries

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.