Schroder Investment Management Group Lowers Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Schroder Investment Management Group lessened its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 34.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,855 shares of the construction company’s stock after selling 39,375 shares during the quarter. Schroder Investment Management Group owned approximately 0.91% of Cavco Industries worth $33,001,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CVCO. Loomis Sayles & Co. L P purchased a new stake in shares of Cavco Industries during the fourth quarter valued at approximately $20,382,000. Norges Bank purchased a new stake in shares of Cavco Industries during the 4th quarter valued at $17,730,000. Raymond James Financial Inc. bought a new position in Cavco Industries during the fourth quarter valued at about $5,967,000. Geode Capital Management LLC increased its holdings in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after buying an additional 12,822 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Cavco Industries by 55.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,887 shares of the construction company’s stock worth $15,368,000 after purchasing an additional 12,780 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVCO. Wedbush restated a “neutral” rating and issued a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd.

Insider Buying and Selling

In other news, insider Matthew A. Nino sold 894 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total transaction of $472,952.82. Following the completion of the transaction, the insider now owns 771 shares of the company’s stock, valued at approximately $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the transaction, the director now owns 15,286 shares in the company, valued at approximately $8,084,459.68. This trade represents a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,644 shares of company stock valued at $4,494,608. Company insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $516.13 on Wednesday. The stock has a fifty day moving average of $515.49 and a 200-day moving average of $476.56. The stock has a market cap of $4.18 billion, a PE ratio of 25.40 and a beta of 1.34. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. On average, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current 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.