Boston Trust Walden Corp Sells 6,906 Shares of Cavco Industries, Inc. $CVCO

Key Points

• Boston Trust Walden reduced its stake in Cavco by 4.3% in Q4, selling 6,906 shares and now owning 154,667 shares (about 1.98% of the company) valued at $91,368,000.
• Insider buying—Director Steven W. Moster bought 300 shares (~$456.23 each) and CEO William C. Boor bought 1,000 shares (~$495 each); insiders purchased 1,800 shares worth $866,592 in the last 90 days and now own 1.60% of the stock.
• Cavco missed Q4 estimates (EPS $5.58 vs. $6.00 est.; revenue $580.99M vs. $593.37M) but analysts maintain a consensus "Moderate Buy" with a $550 price target while the stock trades around $531.18 (market cap ~$4.12B).

Boston Trust Walden Corp cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,667 shares of the construction company's stock after selling 6,906 shares during the period. Boston Trust Walden Corp owned 1.98% of Cavco Industries worth $91,368,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in Cavco Industries in the third quarter worth approximately $31,000. Osaic Holdings Inc. raised its position in Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company's stock worth $57,000 after acquiring an additional 65 shares during the period. Danske Bank A S purchased a new stake in shares of Cavco Industries in the third quarter worth $58,000. Mather Group LLC. purchased a new stake in shares of Cavco Industries in the third quarter worth $63,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Cavco Industries by 72.5% in the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company's stock worth $69,000 after purchasing an additional 50 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Activity 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 bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The shares were bought at an average cost of $495.00 per share, with a total value of $495,000.00. Following the completion of the purchase, the chief executive officer directly owned 48,022 shares of the company's stock, valued at $23,770,890. This represents a 2.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 1,800 shares of company stock valued at $866,592. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

CVCO has been the subject of a number of analyst reports. Weiss Ratings cut shares of Cavco Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, February 26th. Zelman & Associates raised shares of Cavco Industries to an "outperform" rating in a research note on Thursday, February 5th. Finally, Zacks Research raised shares of Cavco Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cavco Industries has an average rating of "Moderate Buy" and a consensus target price of $550.00.

Cavco Industries Stock Performance

CVCO opened at $531.18 on Wednesday. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 23.07 and a beta of 1.33. The company has a fifty day moving average of $525.77 and a 200 day moving average of $562.23. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its 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). The company had revenue of $580.99 million for the quarter, compared to analysts' expectations of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. On average, equities research analysts forecast that Cavco Industries, Inc. will post 23.86 earnings per share for the current year.

Cavco Industries Company 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.

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