Nuveen Asset Management LLC Reduces Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Nuveen Asset Management LLC trimmed its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,892 shares of the construction company's stock after selling 1,645 shares during the period. Nuveen Asset Management LLC owned about 0.28% of Cavco Industries worth $10,215,000 at the end of the most recent quarter.

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

Insider Transactions at Cavco Industries

In other 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 value of $2,115,520.00. Following the sale, the director now owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wedbush restated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Friday.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO traded down $0.68 during mid-day trading on Friday, hitting $433.70. The stock had a trading volume of 108,153 shares, compared to its average volume of 65,690. The business has a 50 day moving average price of $493.30 and a two-hundred day moving average price of $493.56. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $549.99. The firm has a market cap of $3.48 billion, a P/E ratio of 21.34 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released 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 firm had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

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.