Cavco Industries, Inc. (NASDAQ:CVCO) Position Raised by Creative Planning

Creative Planning raised its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 116.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,136 shares of the construction company’s stock after acquiring an additional 612 shares during the period. Creative Planning’s holdings in Cavco Industries were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at $262,000. The Manufacturers Life Insurance Company raised its position in shares of Cavco Industries by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 4,602 shares of the construction company’s stock valued at $1,593,000 after buying an additional 87 shares during the last quarter. AYAL Capital Advisors Ltd raised its position in shares of Cavco Industries by 61.4% during the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock valued at $10,337,000 after buying an additional 11,361 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Cavco Industries during the second quarter valued at about $594,000. Finally, Marshall Wace LLP bought a new stake in Cavco Industries in the second quarter valued at about $692,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 2.4 %

Shares of NASDAQ CVCO opened at $449.92 on Thursday. The company’s fifty day moving average is $411.53 and its 200-day moving average is $383.15. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 24.52 and a beta of 1.24. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $452.42.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data 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 net margin of 8.12% and a return on equity of 14.23%. 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 prior year, the firm posted $5.29 earnings per share. On average, research analysts anticipate that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

Analysts Set New Price Targets

CVCO has been the subject of several recent analyst reports. Wedbush raised their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Craig Hallum raised their price objective on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

Insider Buying and Selling at Cavco Industries

In other news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $210,806.50. Following the transaction, the senior vice president now owns 1,255 shares in the company, valued at $460,108.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,663 shares of company stock worth $1,882,930. Insiders own 1.60% of the company’s stock.

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.