HighTower Advisors LLC Raises Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

HighTower Advisors LLC grew its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,518 shares of the construction company’s stock after acquiring an additional 73 shares during the quarter. HighTower Advisors LLC’s holdings in Cavco Industries were worth $649,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CVCO. Thrivent Financial for Lutherans boosted its holdings in Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after purchasing an additional 2,558 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Cavco Industries in the 2nd quarter worth $931,000. Fisher Asset Management LLC boosted its stake in shares of Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after buying an additional 5,620 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Cavco Industries by 90.0% in the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after acquiring an additional 90 shares during the period. Finally, Cerity Partners LLC increased its position in Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after acquiring an additional 22,451 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CVCO. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday. Wedbush cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a research note on Tuesday, December 3rd. Finally, Craig Hallum boosted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Insider Transactions at Cavco Industries

In related news, CAO Paul Bigbee sold 100 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the sale, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the transaction, the director now directly owns 2,086 shares in the company, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,100 shares of company stock valued at $535,642 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Stock Down 2.2 %

Shares of CVCO opened at $442.22 on Friday. The business has a 50-day simple moving average of $467.14 and a two-hundred day simple moving average of $415.36. Cavco Industries, Inc. has a 52 week low of $304.10 and a 52 week high of $544.08. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 25.00 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The company had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. During the same period in the prior year, the firm posted $4.76 EPS. On average, equities analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Cavco Industries Company Profile

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.