Moran Wealth Management LLC Raises Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Moran Wealth Management LLC grew its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 35.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387 shares of the construction company’s stock after buying an additional 362 shares during the quarter. Moran Wealth Management LLC’s holdings in Cavco Industries were worth $594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after acquiring an additional 57,278 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Cavco Industries by 147.0% during the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after purchasing an additional 13,331 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Cavco Industries in the second quarter valued at about $4,245,000. AYAL Capital Advisors Ltd increased its stake in shares of Cavco Industries by 61.4% during the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after purchasing an additional 11,361 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of Cavco Industries during the 2nd quarter worth about $3,640,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the transaction, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This represents a 37.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,213 shares of company stock valued at $1,729,458 in the last quarter. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

CVCO has been the topic of several research analyst reports. Wedbush lifted their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Craig Hallum increased their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Cavco Industries Stock Up 3.8 %

Shares of CVCO opened at $512.91 on Friday. Cavco Industries, Inc. has a 52-week low of $271.48 and a 52-week high of $513.72. The stock has a fifty day simple moving average of $438.93 and a two-hundred day simple moving average of $396.82. The company has a market capitalization of $4.16 billion, a PE ratio of 28.47 and a beta of 1.24.

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