Paul Bigbee Sells 88 Shares of Cavco Industries, Inc. (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cavco Industries Stock Up 2.8 %

NASDAQ CVCO opened at $427.53 on Friday. Cavco Industries, Inc. has a 52 week low of $233.84 and a 52 week high of $435.56. The business has a 50 day moving average price of $391.73 and a 200-day moving average price of $374.92. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 23.30 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The business had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. During the same quarter last year, the firm posted $5.29 EPS. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 17.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a report on Friday, August 2nd. Craig Hallum raised their target price on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in Cavco Industries by 119.5% during the 4th quarter. Victory Capital Management Inc. now owns 8,096 shares of the construction company’s stock worth $2,806,000 after purchasing an additional 4,408 shares in the last quarter. Moran Wealth Management LLC boosted its position in shares of Cavco Industries by 5.4% during the fourth quarter. Moran Wealth Management LLC now owns 893 shares of the construction company’s stock valued at $310,000 after buying an additional 46 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Cavco Industries by 15.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,705 shares of the construction company’s stock worth $591,000 after buying an additional 225 shares in the last quarter. First Eagle Investment Management LLC raised its position in Cavco Industries by 19.6% in the 4th quarter. First Eagle Investment Management LLC now owns 9,568 shares of the construction company’s stock valued at $3,316,000 after buying an additional 1,570 shares during the last quarter. Finally, Norges Bank bought a new position in Cavco Industries during the 4th quarter valued at $21,059,000. 95.56% of the stock is owned by institutional investors.

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.