Confluence Investment Management LLC Has $4.34 Million Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Confluence Investment Management LLC lessened its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after purchasing an additional 160,899 shares in the last quarter. Geode Capital Management LLC boosted its position in Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock valued at $101,324,000 after buying an additional 2,640 shares in the last quarter. Boston Trust Walden Corp boosted its position in Cavco Industries by 0.3% in the fourth quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company's stock valued at $86,522,000 after buying an additional 614 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Cavco Industries by 1.0% during the 4th quarter. GW&K Investment Management LLC now owns 188,715 shares of the construction company's stock valued at $84,210,000 after acquiring an additional 1,931 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Cavco Industries by 18.7% during the 4th quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock valued at $81,418,000 after acquiring an additional 28,730 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Down 0.2%

CVCO traded down $0.68 during midday trading on Friday, hitting $433.70. 108,153 shares of the company were exchanged, compared to its average volume of 65,690. The firm has a market capitalization of $3.52 billion, a P/E ratio of 21.34 and a beta of 1.29. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $549.99. The firm's 50 day moving average price is $493.30 and its 200-day moving average price is $493.18.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, topping analysts' consensus estimates of $5.23 by $0.17. The company had revenue of $508.36 million for the quarter, compared to analyst estimates of $504.15 million. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. On average, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now directly owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. The trade was a 20.74% decrease in their ownership of the stock. The sale 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 company insiders.

Analysts Set New Price Targets

CVCO has been the topic of several recent research reports. Wedbush reissued a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a report on Tuesday. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Friday.

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.