Geode Capital Management LLC Has $137.57 Million Holdings in Cavco Industries, Inc. $CVCO

Geode Capital Management LLC raised its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,847 shares of the construction company’s stock after acquiring an additional 1,018 shares during the period. Geode Capital Management LLC owned about 3.00% of Cavco Industries worth $137,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clearstead Advisors LLC grew its stake in Cavco Industries by 186.0% in the fourth quarter. Clearstead Advisors LLC now owns 123 shares of the construction company’s stock valued at $73,000 after acquiring an additional 80 shares during the period. PNC Financial Services Group Inc. grew its stake in Cavco Industries by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 712 shares of the construction company’s stock valued at $421,000 after acquiring an additional 106 shares during the period. GSA Capital Partners LLP acquired a new position in Cavco Industries in the fourth quarter valued at about $882,000. Aviance Capital Partners LLC grew its stake in Cavco Industries by 0.4% in the fourth quarter. Aviance Capital Partners LLC now owns 14,415 shares of the construction company’s stock valued at $8,516,000 after acquiring an additional 58 shares during the period. Finally, ProShare Advisors LLC grew its stake in Cavco Industries by 5.0% in the fourth quarter. ProShare Advisors LLC now owns 1,515 shares of the construction company’s stock valued at $895,000 after acquiring an additional 72 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zelman & Associates raised Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Finally, Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $550.00.

Insider Transactions at Cavco Industries

In other news, EVP Allison Aden sold 129 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $455.76, for a total value of $58,793.04. Following the sale, the executive vice president directly owned 8,806 shares in the company, valued at $4,013,422.56. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the completion of the sale, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 360 shares of company stock worth $182,127. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $550.29 on Friday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 22.96 and a beta of 1.30. The stock’s 50-day moving average is $504.39 and its 200-day moving average is $554.46. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. The company had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. On average, equities analysts expect that Cavco Industries, Inc. will post 25 EPS for the current year.

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.