Cavco Industries, Inc. $CVCO Shares Sold by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. cut its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 12.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,388 shares of the construction company’s stock after selling 1,712 shares during the quarter. Cavco Industries accounts for 2.0% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 16th largest position. Westbourne Investment Advisors Inc. owned about 0.16% of Cavco Industries worth $7,318,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVCO. Boston Partners grew its holdings in shares of Cavco Industries by 82.8% in the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after acquiring an additional 167,230 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Cavco Industries by 737.9% during the third quarter. Voya Investment Management LLC now owns 45,348 shares of the construction company’s stock valued at $26,335,000 after buying an additional 39,936 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Cavco Industries by 630.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 38,717 shares of the construction company’s stock valued at $22,484,000 after buying an additional 33,414 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Cavco Industries by 282.0% during the third quarter. American Century Companies Inc. now owns 30,062 shares of the construction company’s stock valued at $17,458,000 after buying an additional 22,193 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Cavco Industries by 6.1% during the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock valued at $165,380,000 after buying an additional 21,837 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Price Performance

Shares of NASDAQ CVCO traded up $1.24 during trading hours on Tuesday, hitting $524.78. 11,825 shares of the company’s stock were exchanged, compared to its average volume of 196,621. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $713.01. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 22.79 and a beta of 1.33. The company’s 50-day moving average price is $526.47 and its 200-day moving average price is $564.69.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The business had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. On average, research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Analyst Ratings Changes

CVCO has been the topic of a number of research analyst reports. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.00.

Insider Buying and Selling at Cavco Industries

In other news, Director David A. Greenblatt purchased 413 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was purchased at an average price of $463.01 per share, with a total value of $191,223.13. Following the acquisition, the director directly owned 15,989 shares in the company, valued at approximately $7,403,066.89. The trade was a 2.65% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven W. Moster purchased 300 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was purchased at an average cost of $456.23 per share, with a total value of $136,869.00. Following the acquisition, the director owned 2,976 shares in the company, valued at approximately $1,357,740.48. This represents a 11.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 1,800 shares of company stock valued at $866,592 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.