Confluence Investment Management LLC Reduces Stock Holdings in Cavco Industries, Inc. $CVCO

Confluence Investment Management LLC reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,421 shares of the construction company’s stock after selling 1,866 shares during the quarter. Confluence Investment Management LLC owned 0.13% of Cavco Industries worth $6,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Cavco Industries by 5.2% during 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. grew its position in shares of Cavco Industries by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after acquiring an additional 90 shares during the period. United Services Automobile Association bought a new stake in shares of Cavco Industries during the 1st quarter valued at $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cavco Industries by 15.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock worth $9,289,000 after purchasing an additional 2,384 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Cavco Industries by 7.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,057 shares of the construction company’s stock worth $894,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVCO shares. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Zacks Research downgraded Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Finally, CJS Securities raised Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $550.00.

Cavco Industries Trading Down 2.2%

Shares of CVCO opened at $460.16 on Friday. The business’s 50 day moving average is $577.60 and its 200 day moving average is $571.61. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The company has a market capitalization of $3.57 billion, a PE ratio of 19.99 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $593.37 million. Equities research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Insider Transactions at Cavco Industries

In related news, Director Steven W. Moster bought 300 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average cost of $456.23 per share, with a total value of $136,869.00. Following the completion of the purchase, the director owned 2,976 shares of the company’s stock, valued at approximately $1,357,740.48. The trade was a 11.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William C. Boor purchased 1,000 shares of Cavco Industries stock in a transaction on Wednesday, February 4th. The stock was bought at an average price of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the acquisition, the chief executive officer owned 48,022 shares in the company, valued at $23,770,890. The trade was a 2.13% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 1,800 shares of company stock valued at $866,592. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries 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.