Northwestern Mutual Wealth Management Co. grew its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 852,093.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,798,128 shares of the construction company’s stock after buying an additional 1,797,917 shares during the quarter. Cavco Industries makes up 0.5% of Northwestern Mutual Wealth Management Co.’s holdings, making the stock its 28th biggest holding. Northwestern Mutual Wealth Management Co. owned approximately 23.17% of Cavco Industries worth $1,062,226,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Danske Bank A S acquired a new position in Cavco Industries in the 3rd quarter worth about $58,000. CIBC Private Wealth Group LLC boosted its stake in shares of Cavco Industries by 72.5% during the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock valued at $69,000 after purchasing an additional 50 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares during the last quarter. CWM LLC grew its holdings in shares of Cavco Industries by 31.3% during the third quarter. CWM LLC now owns 176 shares of the construction company’s stock worth $102,000 after purchasing an additional 42 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Cavco Industries by 27.4% in the third quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock valued at $109,000 after buying an additional 40 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings cut shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cavco Industries currently has an average rating of “Moderate Buy” and an average target price of $550.00.
Cavco Industries Price Performance
Shares of CVCO opened at $455.76 on Friday. The business has a 50-day moving average of $499.94 and a 200-day moving average of $557.77. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 19.80 and a beta of 1.31. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $713.01.
About Cavco Industries
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.
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