Franklin Resources Inc. Sells 1,898 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Franklin Resources Inc. decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,538 shares of the construction company’s stock after selling 1,898 shares during the period. Franklin Resources Inc. owned 0.12% of Cavco Industries worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. SkyView Investment Advisors LLC increased its position in shares of Cavco Industries by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock worth $767,000 after buying an additional 31 shares during the period. Virtu Financial LLC bought a new stake in Cavco Industries during the third quarter valued at $637,000. Coldstream Capital Management Inc. acquired a new stake in Cavco Industries during the 3rd quarter worth about $213,000. Geode Capital Management LLC raised its position in shares of Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after acquiring an additional 12,822 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Cavco Industries by 162.0% in the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after purchasing an additional 10,656 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Insider Transactions at Cavco Industries

In other news, Director Julia Sze sold 125 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares in the company, valued at $1,312,283.48. This represents a 4.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the sale, the director now owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,100 shares of company stock valued at $535,642 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $450.62 on Wednesday. Cavco Industries, Inc. has a 52-week low of $304.10 and a 52-week high of $544.08. The business’s 50 day simple moving average is $468.01 and its two-hundred day simple moving average is $417.64. The firm has a market cap of $3.65 billion, a P/E ratio of 25.47 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period last year, the business earned $4.76 EPS. On average, equities analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Craig Hallum lifted their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research note on Tuesday, December 3rd.

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.