McClarren Financial Advisors Inc. Makes New Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

McClarren Financial Advisors Inc. purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 953 shares of the construction company’s stock, valued at approximately $425,000. Cavco Industries makes up 1.2% of McClarren Financial Advisors Inc.’s investment portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its stake in Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after purchasing an additional 57,278 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Cavco Industries by 91.8% in the third 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. Atom Investors LP purchased a new stake in shares of Cavco Industries in the third quarter worth $7,572,000. Harbor Capital Advisors Inc. boosted its stake in Cavco Industries by 147.0% during the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after buying an additional 13,331 shares during the period. Finally, Geode Capital Management LLC grew its position in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after buying an additional 12,822 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVCO shares. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Craig Hallum lifted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush reissued a “neutral” rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Insiders Place Their Bets

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the transaction, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. The trade was a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock valued at $2,857,395 over the last three months. Insiders own 1.60% of the company’s stock.

Cavco Industries Trading Down 1.1 %

Shares of Cavco Industries stock opened at $524.85 on Thursday. The firm has a market capitalization of $4.26 billion, a PE ratio of 25.83 and a beta of 1.35. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08. The business’s 50-day moving average price is $474.94 and its 200-day moving average price is $445.25.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results 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, analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal 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.