Fisher Asset Management LLC Sells 44,797 Shares of Cavco Industries, Inc. $CVCO

Fisher Asset Management LLC lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 61.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,682 shares of the construction company’s stock after selling 44,797 shares during the period. Fisher Asset Management LLC owned 0.35% of Cavco Industries worth $12,026,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Cavco Industries by 2.6% in the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company’s stock valued at $816,000 after purchasing an additional 40 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Cavco Industries by 7.5% in the first quarter. Evergreen Capital Management LLC now owns 573 shares of the construction company’s stock worth $298,000 after purchasing an additional 40 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Cavco Industries by 1.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 3,773 shares of the construction company’s stock worth $1,639,000 after buying an additional 41 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in Cavco Industries by 2.0% during the second quarter. Sheets Smith Wealth Management now owns 2,214 shares of the construction company’s stock valued at $962,000 after buying an additional 44 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a research note on Monday. Zacks Research raised Cavco Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Cavco Industries has an average rating of “Buy” and a consensus price target of $550.00.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $586.69 on Thursday. The stock has a 50-day simple moving average of $557.43 and a 200 day simple moving average of $499.24. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $613.77. The stock has a market capitalization of $4.58 billion, a PE ratio of 24.10 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, topping the consensus estimate of $6.30 by $0.25. Cavco Industries had a return on equity of 19.13% and a net margin of 9.18%.The company had revenue of $556.53 million for the quarter, compared to the consensus estimate of $542.92 million. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Transactions at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $568.99, for a total transaction of $284,495.00. Following the completion of the transaction, the director directly owned 6,669 shares in the company, valued at $3,794,594.31. This represents a 6.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.