Cerity Partners LLC Takes $6.09 Million Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Cerity Partners LLC bought a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the fourth quarter, HoldingsChannel.com reports. The fund bought 17,554 shares of the construction company’s stock, valued at approximately $6,085,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Cavco Industries in the 4th quarter valued at approximately $19,596,000. Pacer Advisors Inc. grew its position in Cavco Industries by 38.0% in the fourth quarter. Pacer Advisors Inc. now owns 169,643 shares of the construction company’s stock valued at $58,802,000 after acquiring an additional 46,726 shares during the period. Envestnet Asset Management Inc. raised its stake in Cavco Industries by 165.4% during the first quarter. Envestnet Asset Management Inc. now owns 62,638 shares of the construction company’s stock worth $7,182,000 after acquiring an additional 39,036 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Cavco Industries by 366.7% during the fourth quarter. Marshall Wace LLP now owns 45,220 shares of the construction company’s stock valued at $10,231,000 after acquiring an additional 35,530 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Cavco Industries by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 789,464 shares of the construction company’s stock valued at $190,142,000 after purchasing an additional 34,461 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Performance

CVCO opened at $370.43 on Tuesday. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $400.99. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 18.79 and a beta of 1.15. The firm’s 50-day simple moving average is $374.11 and its 200-day simple moving average is $324.27.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Friday, February 2nd. The construction company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $4.36 by ($0.09). Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. The firm had revenue of $446.77 million for the quarter, compared to the consensus estimate of $428.40 million. During the same period in the prior year, the company posted $6.66 earnings per share. As a group, sell-side analysts anticipate that Cavco Industries, Inc. will post 19.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, CAO Paul Bigbee sold 262 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $367.13, for a total value of $96,188.06. Following the transaction, the chief accounting officer now owns 766 shares of the company’s stock, valued at $281,221.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cavco Industries news, CAO Paul Bigbee sold 262 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $367.13, for a total value of $96,188.06. Following the completion of the sale, the chief accounting officer now owns 766 shares in the company, valued at approximately $281,221.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew A. Nino sold 2,357 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $360.00, for a total transaction of $848,520.00. Following the completion of the transaction, the insider now directly owns 1,248 shares of the company’s stock, valued at $449,280. The disclosure for this sale can be found here. 1.73% of the stock is owned by corporate insiders.

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.