Cavco Industries, Inc. (NASDAQ:CVCO) Stock Position Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 40.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,890 shares of the construction company’s stock after selling 4,041 shares during the quarter. Corient Private Wealth LLC’s holdings in Cavco Industries were worth $2,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CVCO. Avior Wealth Management LLC bought a new stake in Cavco Industries during the third quarter valued at $64,000. Smartleaf Asset Management LLC boosted its holdings in shares of Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after buying an additional 128 shares during the period. Blue Trust Inc. grew its position in shares of Cavco Industries by 28.9% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after buying an additional 55 shares during the last quarter. GAMMA Investing LLC raised its stake in Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after acquiring an additional 42 shares during the period. Finally, KBC Group NV lifted its holdings in Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after acquiring an additional 86 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Cavco Industries

In other news, insider Jack S. Brandom sold 1,000 shares of Cavco Industries stock in a transaction on Friday, February 7th. The stock was sold at an average price of $538.00, for a total transaction of $538,000.00. Following the transaction, the insider now directly owns 1,176 shares in the company, valued at approximately $632,688. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Greenblatt sold 4,000 shares of the business’s stock in a transaction on 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 directly owns 15,286 shares in the company, valued at $8,084,459.68. This represents a 20.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,644 shares of company stock valued at $4,494,608. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Trading Down 1.6 %

NASDAQ CVCO opened at $512.89 on Monday. The company has a 50-day moving average price of $507.60 and a two-hundred day moving average price of $470.86. Cavco Industries, Inc. has a 52 week low of $331.08 and a 52 week high of $544.08. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 25.24 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data 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 return on equity of 16.17% and a net margin of 8.75%. As a group, equities research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

About Cavco Industries

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.