Cavco Industries, Inc. $CVCO Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 151.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88 shares of the construction company’s stock after purchasing an additional 53 shares during the quarter. Farther Finance Advisors LLC’s holdings in Cavco Industries were worth $38,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CVCO. GAMMA Investing LLC increased its stake in Cavco Industries by 38.7% in the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock valued at $229,000 after purchasing an additional 123 shares during the period. SG Americas Securities LLC acquired a new position in Cavco Industries in the first quarter valued at $815,000. NorthCrest Asset Manangement LLC acquired a new position in Cavco Industries in the first quarter valued at $648,000. Oppenheimer Asset Management Inc. increased its stake in Cavco Industries by 2.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,610 shares of the construction company’s stock valued at $2,395,000 after purchasing an additional 113 shares during the period. Finally, Sheets Smith Wealth Management increased its stake in Cavco Industries by 4.1% in the first quarter. Sheets Smith Wealth Management now owns 2,170 shares of the construction company’s stock valued at $1,128,000 after purchasing an additional 86 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Trading Up 0.9%

Shares of CVCO opened at $503.19 on Wednesday. The stock has a market cap of $3.99 billion, a P/E ratio of 21.81 and a beta of 1.23. The company has a 50-day moving average of $517.72 and a two-hundred day moving average of $482.81. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $600.00.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.61. The company had revenue of $556.86 million during the quarter, compared to analysts’ expectations 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 forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVCO. Wall Street Zen downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Wedbush reaffirmed a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cavco Industries in a report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cavco Industries has a consensus rating of “Moderate Buy” and an average price target of $522.50.

Insiders Place Their Bets

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of Cavco Industries 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 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 legal filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 300 shares of Cavco Industries stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $530.45, for a total transaction of $159,135.00. Following the transaction, the chief accounting officer owned 774 shares of the company’s stock, valued at approximately $410,568.30. The trade was a 27.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,600 shares of company stock worth $2,820,884. 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.