Geode Capital Management LLC Boosts Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Geode Capital Management LLC boosted its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,384 shares of the construction company’s stock after purchasing an additional 12,822 shares during the quarter. Geode Capital Management LLC owned about 2.77% of Cavco Industries worth $96,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in shares of Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after buying an additional 2,558 shares in the last quarter. Quest Partners LLC bought a new position in Cavco Industries during the second quarter valued at $931,000. Fisher Asset Management LLC grew its position in Cavco Industries by 8.5% in the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after acquiring an additional 5,620 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after purchasing an additional 90 shares during the period. Finally, Cerity Partners LLC boosted its stake in Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after buying an additional 22,451 shares during the period. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CVCO. Craig Hallum raised their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a research note on Tuesday, December 3rd. Finally, StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the sale, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at approximately $502,497.63. This represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares in the company, valued at $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,100 shares of company stock worth $535,642 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $452.12 on Thursday. Cavco Industries, Inc. has a 52-week low of $304.10 and a 52-week high of $544.08. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 25.56 and a beta of 1.29. The stock has a 50 day moving average price of $466.66 and a 200 day moving average price of $415.17.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the prior year, the business earned $4.76 EPS. Analysts forecast that Cavco Industries, Inc. will post 18 earnings per share 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.