HighTower Advisors LLC Has $816,000 Holdings in Cavco Industries, Inc. $CVCO

HighTower Advisors LLC raised its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,571 shares of the construction company’s stock after buying an additional 40 shares during the period. HighTower Advisors LLC’s holdings in Cavco Industries were worth $816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after acquiring an additional 48 shares during the last quarter. DAVENPORT & Co LLC bought a new position in shares of Cavco Industries in the first quarter worth about $208,000. GAMMA Investing LLC raised its stake in shares of Cavco Industries by 38.7% in the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock worth $229,000 after acquiring an additional 123 shares during the last quarter. SkyOak Wealth LLC bought a new position in shares of Cavco Industries in the first quarter worth about $246,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Cavco Industries by 58.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company’s stock worth $219,000 after acquiring an additional 181 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVCO. Wedbush reaffirmed a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average target price of $522.50.

Cavco Industries Price Performance

CVCO opened at $529.78 on Thursday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 22.96 and a beta of 1.15. The firm has a 50 day simple moving average of $447.57 and a 200 day simple moving average of $477.15. Cavco Industries, Inc. has a fifty-two week low of $390.46 and a fifty-two week high of $549.99.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, topping analysts’ consensus estimates of $5.81 by $0.61. The business had revenue of $556.86 million during the quarter, compared to the consensus estimate of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. As a group, analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total transaction of $240,275.00. Following the completion of the transaction, the director owned 7,169 shares in the company, valued at approximately $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Blount sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the transaction, the director owned 3,126 shares of the company’s stock, valued at approximately $1,623,331.80. This represents a 44.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,300 shares of company stock valued at $2,661,749 over the last ninety days. Insiders own 1.60% of the company’s stock.

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.