Cavco Industries, Inc. (NASDAQ:CVCO) Holdings Reduced by Millennium Management LLC

Millennium Management LLC decreased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,453 shares of the construction company’s stock after selling 1,456 shares during the period. Millennium Management LLC owned approximately 0.07% of Cavco Industries worth $2,433,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CVCO. Barclays PLC boosted its holdings in shares of Cavco Industries by 162.0% in the third quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after acquiring an additional 10,656 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Cavco Industries in the fourth quarter valued at approximately $254,000. Blue Trust Inc. boosted its holdings in shares of Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after acquiring an additional 55 shares in the last quarter. KBC Group NV boosted its holdings in shares of Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after acquiring an additional 86 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in shares of Cavco Industries by 0.3% in the fourth quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company’s stock valued at $86,522,000 after acquiring an additional 614 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Activity at Cavco Industries

In related news, Director David A. Greenblatt sold 4,000 shares of the 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 sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Cavco Industries Price Performance

CVCO stock opened at $433.70 on Monday. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $549.99. The firm has a market cap of $3.48 billion, a PE ratio of 21.34 and a beta of 1.29. The firm has a 50 day simple moving average of $493.30 and a 200 day simple moving average of $493.56.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating the consensus estimate of $5.23 by $0.17. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. The business had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. As a group, sell-side analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Analyst Ratings Changes

CVCO has been the subject of several recent analyst reports. Wall Street Zen cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday. Wedbush reiterated a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Tuesday, May 27th.

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.