Victory Capital Management Inc. Purchases 3,745 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Victory Capital Management Inc. increased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 103.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,355 shares of the construction company’s stock after purchasing an additional 3,745 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Cavco Industries worth $3,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVCO. Cerity Partners LLC lifted its position in Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after purchasing an additional 22,451 shares during the period. Atom Investors LP bought a new position in shares of Cavco Industries during the third quarter valued at $7,572,000. Geode Capital Management LLC lifted its holdings in shares of Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Cavco Industries by 55.3% during the third quarter. JPMorgan Chase & Co. now owns 35,887 shares of the construction company’s stock valued at $15,368,000 after acquiring an additional 12,780 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Cavco Industries during the fourth quarter valued at $5,376,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Stock Up 3.1 %

Cavco Industries stock opened at $506.83 on Monday. The stock has a 50-day simple moving average of $500.43 and a 200 day simple moving average of $467.06. Cavco Industries, Inc. has a 12-month low of $331.08 and a 12-month high of $544.08. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 24.94 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVCO. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Wedbush reissued a “neutral” rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

Insider Activity at Cavco Industries

In related news, Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the sale, the director now directly owns 2,836 shares in the company, valued at $1,438,362.48. This trade represents a 41.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the sale, the director now owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,644 shares of company stock valued at $4,494,608 over the last ninety days. 1.60% of the stock is owned by insiders.

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.