Cavco Industries, Inc. (NASDAQ:CVCO) Stake Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,782 shares of the construction company’s stock after selling 7,111 shares during the period. Edgestream Partners L.P.’s holdings in Cavco Industries were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after purchasing an additional 82 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Cavco Industries in the 3rd quarter valued at approximately $64,000. Smartleaf Asset Management LLC raised its position in Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after acquiring an additional 128 shares in the last quarter. Blue Trust Inc. raised its position in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after acquiring an additional 55 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Buying and Selling

In other news, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the transaction, the director now directly owns 2,836 shares in the company, valued at approximately $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the transaction, the director now owns 15,286 shares in the company, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,394 shares of company stock worth $4,858,778 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Stock Performance

Shares of CVCO stock opened at $502.69 on Wednesday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 24.74 and a beta of 1.34. The stock’s 50 day simple moving average is $496.98 and its 200 day simple moving average is $464.98. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. On average, analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Wedbush reiterated a “neutral” rating and issued a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

Cavco Industries 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.