Confluence Investment Management LLC Has $7.14 Million Stock Holdings in Cavco Industries, Inc. $CVCO

Confluence Investment Management LLC lifted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 62.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,287 shares of the construction company’s stock after acquiring an additional 4,729 shares during the period. Confluence Investment Management LLC owned approximately 0.16% of Cavco Industries worth $7,135,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its holdings in 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 buying an additional 40 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Cavco Industries by 1.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,949 shares of the construction company’s stock valued at $52,457,000 after buying an additional 1,298 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Cavco Industries by 64.0% during the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock valued at $80,940,000 after acquiring an additional 60,779 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 worth $92,000 after purchasing an additional 171 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Cavco Industries during the 1st quarter worth $381,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Up 0.3%

Shares of Cavco Industries stock opened at $603.54 on Wednesday. The company has a market cap of $4.71 billion, a PE ratio of 24.80 and a beta of 1.28. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $618.03. The business has a 50 day moving average price of $571.88 and a 200-day moving average price of $512.68.

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

Analyst Ratings Changes

CVCO has been the topic of a number of recent analyst reports. Zacks Research lowered Cavco Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cavco Industries in a research report on Monday. Finally, CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cavco Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.00.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the completion of the transaction, the director owned 6,669 shares in the company, valued at $3,794,594.31. This represents a 6.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.