Verus Capital Partners LLC Lowers Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Verus Capital Partners LLC reduced its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 12.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 573 shares of the construction company’s stock after selling 80 shares during the period. Verus Capital Partners LLC’s holdings in Cavco Industries were worth $245,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVCO. Amalgamated Bank lifted its stake in shares of Cavco Industries by 1.2% in the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock worth $1,040,000 after acquiring an additional 29 shares during the period. Arizona State Retirement System lifted its stake in shares of Cavco Industries by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock worth $728,000 after acquiring an additional 39 shares during the period. ProShare Advisors LLC lifted its stake in shares of Cavco Industries by 3.3% in the 1st quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock worth $669,000 after acquiring an additional 54 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after acquiring an additional 64 shares during the period. Finally, Lakewood Asset Management LLC lifted its stake in shares of Cavco Industries by 8.5% in the 3rd quarter. Lakewood Asset Management LLC now owns 902 shares of the construction company’s stock worth $386,000 after acquiring an additional 71 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wedbush raised their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, Craig Hallum raised their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. The trade was a 0.00 % 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, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the transaction, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,213 shares of company stock worth $1,729,458. Insiders own 1.60% of the company’s stock.

Cavco Industries Stock Down 0.3 %

Shares of NASDAQ CVCO opened at $466.18 on Thursday. Cavco Industries, Inc. has a 52 week low of $264.88 and a 52 week high of $484.80. The firm has a 50-day moving average price of $429.37 and a 200 day moving average price of $392.20. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 26.35 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter last year, the business earned $4.76 earnings per share. Equities research analysts expect that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

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.