Cavco Industries, Inc. (NASDAQ:CVCO) Holdings Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 80.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,782 shares of the construction company’s stock after selling 7,111 shares during the period. Edgestream Partners L.P.’s holdings in Cavco Industries were worth $795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares in the last quarter. Avior Wealth Management LLC bought a new position in Cavco Industries during the third quarter valued at about $64,000. Smartleaf Asset Management LLC boosted its stake in Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after buying an additional 128 shares in the last quarter. Blue Trust Inc. boosted its stake in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after buying an additional 55 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after acquiring an additional 42 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction 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 transaction, the director now owns 15,286 shares in the company, valued at approximately $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now directly owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,394 shares of company stock worth $4,858,778. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVCO. Wedbush restated a “neutral” rating and set a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Cavco Industries Stock Down 1.7 %

Shares of NASDAQ CVCO opened at $502.69 on Wednesday. The business has a fifty day simple moving average of $496.98 and a 200-day simple moving average of $464.98. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 24.74 and a beta of 1.34. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, January 30th. The construction company reported $6.90 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, sell-side analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Cavco Industries 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.