Bank of New York Mellon Corp Trims Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Bank of New York Mellon Corp lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 13.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 73,744 shares of the construction company’s stock after selling 11,953 shares during the period. Bank of New York Mellon Corp owned about 0.91% of Cavco Industries worth $32,907,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after buying an additional 82 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in Cavco Industries in the 3rd quarter worth about $64,000. Blue Trust Inc. boosted its holdings in Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after buying an additional 55 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV lifted its stake in Cavco Industries by 35.2% in the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after purchasing an additional 86 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 opened at $520.32 on Friday. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 25.61 and a beta of 1.35. The stock’s 50-day moving average is $494.56 and its two-hundred day moving average is $462.44. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In related news, Director Julia Sze sold 125 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $503.31, for a total value of $62,913.75. Following the completion of the sale, the director now owns 2,736 shares in the company, valued at $1,377,056.16. This represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Blount sold 750 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the sale, the director now owns 2,836 shares of the company’s stock, valued at approximately $1,337,741.20. This trade represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,519 shares of company stock worth $4,921,692. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Wedbush reaffirmed a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.

Cavco Industries 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.