Cavco Industries, Inc. (NASDAQ:CVCO) Stake Trimmed by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,359 shares of the construction company's stock after selling 1,244 shares during the period. Confluence Investment Management LLC owned about 0.10% of Cavco Industries worth $4,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Cavco Industries by 118.8% during the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after acquiring an additional 160,899 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Cavco Industries during the fourth quarter valued at approximately $5,376,000. Charles Schwab Investment Management Inc. raised its position in shares of Cavco Industries by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock valued at $49,521,000 after buying an additional 1,524 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Cavco Industries in the fourth quarter worth $215,000. Finally, Commonwealth Equity Services LLC purchased a new position in Cavco Industries during the fourth quarter worth $308,000. 95.56% of the stock is owned by institutional investors.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Stock Performance

Shares of Cavco Industries stock traded up $9.53 on Tuesday, reaching $433.04. The company had a trading volume of 41,902 shares, compared to its average volume of 65,696. The firm's 50 day moving average price is $491.10 and its two-hundred day moving average price is $493.27. The firm has a market cap of $3.47 billion, a PE ratio of 21.31 and a beta of 1.29. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.17. The business had revenue of $508.36 million during the quarter, compared to analysts' expectations of $504.15 million. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. As a group, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Friday. Wedbush reiterated a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a research note on Tuesday, May 27th.

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.