State of Alaska Department of Revenue Cuts Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

State of Alaska Department of Revenue cut its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,682 shares of the construction company’s stock after selling 27 shares during the period. State of Alaska Department of Revenue’s holdings in Cavco Industries were worth $2,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC grew its stake in shares of Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares during the period. Blue Trust Inc. grew its stake in shares of Cavco Industries by 90.0% during the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after purchasing an additional 90 shares during the period. Cerity Partners LLC grew its stake in shares of Cavco Industries by 91.8% during the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after purchasing an additional 22,451 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after purchasing an additional 82 shares during the period. Finally, Barclays PLC grew its stake in shares of Cavco Industries by 162.0% during the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock worth $7,381,000 after purchasing an additional 10,656 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $485.56, for a total transaction of $364,170.00. Following the sale, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $503.31, for a total transaction of $62,913.75. Following the sale, the director now directly owns 2,736 shares in the company, valued at $1,377,056.16. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,619 shares of company stock valued at $2,319,395 in the last ninety days. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVCO. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Wedbush reissued a “neutral” rating and issued a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. Finally, Craig Hallum increased 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.

Cavco Industries Trading Down 0.1 %

Shares of NASDAQ CVCO opened at $528.33 on Tuesday. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 26.00 and a beta of 1.35. Cavco Industries, Inc. has a 52 week low of $331.08 and a 52 week high of $544.08. The company’s 50-day moving average price is $474.39 and its 200 day moving average price is $443.57.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. As a group, research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Cavco Industries Company Profile

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.