Geode Capital Management LLC Sells 2,237 Shares of Cavco Industries, Inc. $CVCO

Geode Capital Management LLC reduced its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 227,927 shares of the construction company’s stock after selling 2,237 shares during the period. Geode Capital Management LLC’s holdings in Cavco Industries were worth $99,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CVCO. Farther Finance Advisors LLC grew its stake in shares of Cavco Industries by 151.4% in the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after acquiring an additional 53 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Cavco Industries by 1,814.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after purchasing an additional 127 shares during the last quarter. CWM LLC increased its holdings in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after purchasing an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Cavco Industries by 2,850.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock valued at $92,000 after buying an additional 171 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cavco Industries during the first quarter valued at about $112,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Stock Up 0.3%

Shares of CVCO opened at $544.16 on Friday. The company has a 50-day moving average price of $551.53 and a two-hundred day moving average price of $495.18. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 23.59 and a beta of 1.21. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $602.57.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.30 by $0.25. The business had revenue of $556.53 million during the quarter, compared to analysts’ expectations of $542.92 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. Equities research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a research note on Monday. Zacks Research raised Cavco Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Finally, Wedbush restated a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cavco Industries presently has an average rating of “Buy” and a consensus target price of $550.00.

Insider Buying and Selling at Cavco Industries

In related news, CAO Paul Bigbee sold 300 shares of Cavco Industries stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $530.45, for a total transaction of $159,135.00. Following the completion of the transaction, the chief accounting officer directly owned 774 shares of the company’s stock, valued at $410,568.30. This trade represents a 27.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $568.99, for a total transaction of $284,495.00. Following the completion of the transaction, the director owned 6,669 shares in the company, valued at approximately $3,794,594.31. This trade represents a 6.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by insiders.

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.