Ameriprise Financial Inc. Reduces Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Ameriprise Financial Inc. reduced its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,986 shares of the construction company's stock after selling 7,801 shares during the quarter. Ameriprise Financial Inc. owned about 1.17% of Cavco Industries worth $42,386,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Harvest Fund Management Co. Ltd purchased a new stake in Cavco Industries in the 4th quarter worth approximately $67,000. Smartleaf Asset Management LLC lifted its stake in Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. lifted its stake in Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after purchasing an additional 55 shares in the last quarter. KBC Group NV lifted its stake in Cavco Industries by 35.2% in the 4th quarter. KBC Group NV now owns 330 shares of the construction company's stock worth $147,000 after purchasing an additional 86 shares in the last quarter. Finally, ClearAlpha Technologies LP purchased a new stake in Cavco Industries in the 4th quarter worth approximately $204,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

Cavco Industries stock opened at $524.14 on Monday. The firm's fifty day moving average price is $499.98 and its 200-day moving average price is $488.72. The stock has a market cap of $4.25 billion, a P/E ratio of 25.79 and a beta of 1.29. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08.

Insider Activity

In related news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on CVCO shares. Wedbush reiterated a "neutral" rating and issued a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

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.

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