Wells Fargo & Company MN Purchases 1,381 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Wells Fargo & Company MN increased its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 49.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,190 shares of the construction company’s stock after acquiring an additional 1,381 shares during the period. Wells Fargo & Company MN owned about 0.05% of Cavco Industries worth $1,870,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Friday. Wedbush reaffirmed a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.

Insider Buying and Selling

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

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $488.92 on Friday. The firm’s 50-day simple moving average is $503.27 and its 200 day simple moving average is $482.82. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 24.06 and a beta of 1.19. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. On average, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

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.