Raymond James Financial Inc. Buys Shares of 13,371 Cavco Industries, Inc. (NASDAQ:CVCO)

Raymond James Financial Inc. purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,371 shares of the construction company’s stock, valued at approximately $5,967,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC grew its position in Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after buying an additional 22,451 shares during the period. Atom Investors LP purchased a new position in shares of Cavco Industries during the 3rd quarter worth $7,572,000. Geode Capital Management LLC grew its position in shares of Cavco Industries by 6.1% during the 3rd 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. grew its position in shares of Cavco Industries by 55.3% during the 3rd 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 purchased a new stake in shares of Cavco Industries in the 4th quarter worth $5,376,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Up 1.9 %

NASDAQ:CVCO opened at $522.48 on Tuesday. The business’s 50-day simple moving average is $509.23 and its two-hundred day simple moving average is $471.74. 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 $4.24 billion, a PE ratio of 25.71 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Sell-side 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 Susan L. Blount sold 750 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the transaction, the director now directly owns 2,836 shares of the company’s stock, valued at approximately $1,337,741.20. This represents a 20.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $538.00, for a total transaction of $538,000.00. Following the completion of the transaction, the insider now directly owns 1,176 shares of the company’s stock, valued at approximately $632,688. This trade represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,644 shares of company stock valued at $4,494,608. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on CVCO shares. Wedbush reiterated a “neutral” rating and set a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research 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.

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.