Moran Wealth Management LLC Increases Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Moran Wealth Management LLC raised its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 35.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,387 shares of the construction company’s stock after buying an additional 362 shares during the period. Moran Wealth Management LLC’s holdings in Cavco Industries were worth $594,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Avior Wealth Management LLC acquired a new stake in shares of Cavco Industries in the third quarter valued at $64,000. Aviance Capital Partners LLC raised its position in Cavco Industries by 0.7% in the 3rd quarter. Aviance Capital Partners LLC now owns 17,316 shares of the construction company’s stock valued at $7,415,000 after purchasing an additional 122 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Cavco Industries by 65.1% in the 3rd quarter. Quest Partners LLC now owns 4,440 shares of the construction company’s stock valued at $1,901,000 after buying an additional 1,751 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Cavco Industries by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company’s stock worth $4,066,000 after buying an additional 37 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Cavco Industries by 90.4% during the third quarter. GSA Capital Partners LLP now owns 3,404 shares of the construction company’s stock worth $1,458,000 after buying an additional 1,616 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVCO shares. Wedbush lifted their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Craig Hallum lifted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Julia Sze sold 125 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the sale, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,213 shares of company stock valued at $1,729,458. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Trading Up 3.8 %

Shares of CVCO opened at $512.91 on Friday. The firm has a market cap of $4.16 billion, a PE ratio of 28.47 and a beta of 1.24. Cavco Industries, Inc. has a 12-month low of $271.48 and a 12-month high of $513.72. The company’s 50 day simple moving average is $438.93 and its 200-day simple moving average is $396.82.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the previous year, the company posted $4.76 earnings per share. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 18 EPS 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.