First Eagle Investment Management LLC Lowers Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

First Eagle Investment Management LLC cut its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,428 shares of the construction company’s stock after selling 900 shares during the period. First Eagle Investment Management LLC owned about 0.14% of Cavco Industries worth $3,956,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares in the last quarter. Mather Group LLC. bought a new position in Cavco Industries in the first quarter worth approximately $60,000. nVerses Capital LLC purchased a new position in Cavco Industries during the 2nd quarter worth $138,000. SG Americas Securities LLC bought a new stake in Cavco Industries during the 1st quarter valued at $197,000. Finally, TradeLink Capital LLC bought a new stake in Cavco Industries during the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

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

Cavco Industries Stock Down 1.9 %

Shares of NASDAQ:CVCO opened at $435.77 on Friday. The firm has a 50 day moving average of $399.48 and a 200 day moving average of $377.03. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 23.75 and a beta of 1.24. Cavco Industries, Inc. has a 52 week low of $233.84 and a 52 week high of $444.90.

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

Insider Buying and Selling at Cavco Industries

In other news, SVP Steven K. Like sold 575 shares of Cavco Industries stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the transaction, the senior vice president now owns 1,255 shares of the company’s stock, valued at approximately $460,108.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Steven K. Like sold 575 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total value of $210,806.50. Following the sale, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,663 shares of company stock valued at $1,882,930. 1.60% of the stock is currently 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.