Cavco Industries, Inc. (NASDAQ:CVCO) Insider Jack S. Brandom Sells 1,000 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) insider Jack S. Brandom sold 1,000 shares of Cavco Industries stock in a transaction on Friday, February 7th. The shares were sold at an average price of $538.00, for a total transaction of $538,000.00. Following the completion of the transaction, the insider now directly owns 1,176 shares in the company, valued at $632,688. The trade was a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cavco Industries Stock Performance

Shares of Cavco Industries stock opened at $535.31 on Friday. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08. The company has a market cap of $4.34 billion, a P/E ratio of 26.34 and a beta of 1.35. The firm has a fifty day moving average of $475.32 and a two-hundred day moving average of $445.81.

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

Wall Street Analyst Weigh In

CVCO has been the topic of a number of recent research reports. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Wedbush restated a “neutral” rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. Finally, Craig Hallum lifted their target price on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Hedge Funds Weigh In On Cavco Industries

A number of large investors have recently modified their holdings of CVCO. FMR LLC grew its holdings in Cavco Industries by 118.8% during the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock worth $132,237,000 after acquiring an additional 160,899 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Cavco Industries by 1,610.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after purchasing an additional 57,278 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Cavco Industries during the 4th quarter worth $20,382,000. Norges Bank purchased a new position in shares of Cavco Industries in the 4th quarter valued at about $17,730,000. Finally, Invesco Ltd. lifted its stake in shares of Cavco Industries by 18.7% in the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock valued at $81,418,000 after purchasing an additional 28,730 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.