Handelsbanken Fonder AB Sells 3,000 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Handelsbanken Fonder AB lowered its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 5.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,286 shares of the construction company's stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.67% of Cavco Industries worth $28,209,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Marks Group Wealth Management Inc raised its position in shares of Cavco Industries by 0.8% in the 4th quarter. Marks Group Wealth Management Inc now owns 11,226 shares of the construction company's stock worth $5,009,000 after buying an additional 89 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in shares of Cavco Industries during the fourth quarter worth about $425,000. Principal Financial Group Inc. increased its position in shares of Cavco Industries by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 42,123 shares of the construction company's stock worth $18,797,000 after acquiring an additional 790 shares during the last quarter. Truist Financial Corp increased its position in shares of Cavco Industries by 0.8% during the fourth quarter. Truist Financial Corp now owns 12,293 shares of the construction company's stock worth $5,486,000 after acquiring an additional 96 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Cavco Industries by 10.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 4,565 shares of the construction company's stock worth $2,037,000 after acquiring an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cavco Industries Price Performance

Shares of NASDAQ CVCO traded down $19.41 during mid-day trading on Friday, hitting $396.53. The company had a trading volume of 267,992 shares, compared to its average volume of 72,044. The business's 50-day simple moving average is $477.04 and its 200-day simple moving average is $488.73. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $549.99. The firm has a market cap of $3.18 billion, a P/E ratio of 19.51 and a beta of 1.16.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wedbush reissued a "neutral" rating and set a $550.00 target price 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.