Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 2,872 Shares of Cavco Industries, Inc. $CVCO

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 82.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 600 shares of the construction company’s stock after selling 2,872 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cavco Industries were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CVCO. Royal Bank of Canada boosted its stake in shares of Cavco Industries by 5.2% in the first quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock valued at $9,849,000 after buying an additional 934 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cavco Industries by 1.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after buying an additional 90 shares during the period. United Services Automobile Association bought a new stake in shares of Cavco Industries in the first quarter valued at approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cavco Industries by 15.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock valued at $9,289,000 after buying an additional 2,384 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVCO has been the subject of several recent research reports. Weiss Ratings cut Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Finally, CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $550.00.

Cavco Industries Price Performance

NASDAQ CVCO opened at $481.27 on Tuesday. The business has a fifty day moving average price of $532.16 and a two-hundred day moving average price of $566.59. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01. The stock has a market capitalization of $3.73 billion, a PE ratio of 20.91 and a beta of 1.33.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The business had revenue of $580.99 million for the quarter, compared to the consensus estimate of $593.37 million. As a group, sell-side analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Insiders Place Their Bets

In other Cavco Industries news, Director Steven W. Moster bought 300 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was purchased at an average cost of $456.23 per share, for a total transaction of $136,869.00. Following the completion of the purchase, the director directly owned 2,976 shares of the company’s stock, valued at approximately $1,357,740.48. This trade represents a 11.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Greenblatt bought 87 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were acquired at an average price of $500.00 per share, with a total value of $43,500.00. Following the completion of the purchase, the director directly owned 16,076 shares of the company’s stock, valued at approximately $8,038,000. The trade was a 0.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 1,800 shares of company stock worth $866,592 over the last three months. Insiders own 1.60% of the company’s stock.

About Cavco Industries

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.