The Manufacturers Life Insurance Company Raises Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

The Manufacturers Life Insurance Company increased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,602 shares of the construction company’s stock after buying an additional 87 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Cavco Industries worth $1,593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CVCO. Osterweis Capital Management Inc. increased its stake in shares of Cavco Industries by 25.8% in the fourth quarter. Osterweis Capital Management Inc. now owns 24,372 shares of the construction company’s stock worth $8,448,000 after buying an additional 5,004 shares during the period. HighPoint Advisor Group LLC purchased a new position in Cavco Industries during the 4th quarter valued at $280,000. Confluence Investment Management LLC purchased a new stake in shares of Cavco Industries in the 1st quarter worth about $4,679,000. Mather Group LLC. purchased a new stake in shares of Cavco Industries in the 1st quarter worth about $60,000. Finally, Aviance Capital Partners LLC grew its position in shares of Cavco Industries by 3.0% in the 1st quarter. Aviance Capital Partners LLC now owns 16,090 shares of the construction company’s stock worth $6,421,000 after buying an additional 469 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares of the company’s stock, valued at $460,108.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares of the company’s stock, valued at $2,679,032.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,663 shares of company stock worth $1,882,930. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

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

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $417.91 on Friday. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 22.77 and a beta of 1.24. The firm’s 50-day moving average is $406.09 and its 200 day moving average is $381.98. Cavco Industries, Inc. has a 1 year low of $233.84 and a 1 year high of $444.90.

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