Envestnet Asset Management Inc. Has $14.44 Million Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Envestnet Asset Management Inc. reduced its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,357 shares of the construction company’s stock after selling 88 shares during the quarter. Envestnet Asset Management Inc. owned 0.40% of Cavco Industries worth $14,438,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in Cavco Industries during the fourth quarter valued at approximately $5,376,000. Charles Schwab Investment Management Inc. lifted its position in shares of Cavco Industries by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company’s stock worth $49,521,000 after buying an additional 1,524 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Cavco Industries in the 4th quarter valued at $215,000. Intech Investment Management LLC boosted its stake in Cavco Industries by 91.4% in the 4th quarter. Intech Investment Management LLC now owns 4,160 shares of the construction company’s stock valued at $1,856,000 after buying an additional 1,986 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in Cavco Industries in the fourth quarter valued at $308,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Price Performance

CVCO opened at $469.45 on Thursday. The company’s 50 day simple moving average is $510.87 and its 200-day simple moving average is $479.96. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08. The stock has a market capitalization of $3.81 billion, a P/E ratio of 23.10 and a beta of 1.19.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating 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, analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now directly owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. This trade represents a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total transaction of $1,014,360.00. Following the sale, the director now directly owns 2,836 shares of the company’s stock, valued at $1,438,362.48. This represents a 41.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,894 shares of company stock worth $4,140,833 over the last 90 days. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CVCO has been the subject of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd.

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.