Amundi Trims Stock Position in Cavco Industries, Inc. $CVCO

Amundi cut its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 20.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,248 shares of the construction company’s stock after selling 841 shares during the quarter. Amundi’s holdings in Cavco Industries were worth $1,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CVCO. CWM LLC boosted its stake in shares of Cavco Industries by 44.0% during the first quarter. CWM LLC now owns 157 shares of the construction company’s stock valued at $82,000 after purchasing an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Cavco Industries by 2,850.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock valued at $92,000 after acquiring an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cavco Industries in the first quarter valued at approximately $112,000. DAVENPORT & Co LLC acquired a new stake in shares of Cavco Industries during the first quarter worth $208,000. Finally, GAMMA Investing LLC lifted its stake in shares of Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock worth $229,000 after buying an additional 123 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVCO shares. Wedbush reiterated a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $522.50.

Cavco Industries Stock Performance

CVCO opened at $544.99 on Friday. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $568.97. The company has a fifty day moving average of $473.78 and a two-hundred day moving average of $477.85. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 23.62 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, beating analysts’ consensus estimates of $5.81 by $0.61. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The company had revenue of $556.86 million during the quarter, compared to analysts’ expectations of $524.97 million. On average, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Insider Transactions at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction dated 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 sale, the director owned 7,169 shares of the company’s stock, valued at $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Blount sold 2,500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the sale, the director directly owned 3,126 shares of the company’s stock, valued at $1,623,331.80. This represents a 44.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,600 shares of company stock valued at $2,820,884 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

About Cavco Industries

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.