Wellington Management Group LLP lessened its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 47.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,431 shares of the construction company's stock after selling 119,592 shares during the quarter. Wellington Management Group LLP owned about 1.63% of Cavco Industries worth $59,095,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised 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 acquiring an additional 160,899 shares during the period. Janus Henderson Group PLC raised its stake in shares of Cavco Industries by 1,030.9% in the 4th quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock valued at $32,371,000 after acquiring an additional 66,120 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Cavco Industries in the 4th quarter valued at $20,382,000. Norges Bank purchased a new position in shares of Cavco Industries in the 4th quarter valued at $17,730,000. Finally, Invesco Ltd. raised its stake in shares of Cavco Industries by 18.7% in 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 during the period. Institutional investors and hedge funds own 95.56% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on CVCO shares. Wedbush reissued a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Friday.
View Our Latest Research Report on Cavco Industries
Cavco Industries Price Performance
Cavco Industries stock traded down $0.68 during midday trading on Friday, hitting $433.70. 108,153 shares of the stock were exchanged, compared to its average volume of 65,690. 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. The company has a 50 day moving average price of $493.30 and a two-hundred day moving average price of $493.37.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $504.15 million. As a group, analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.
Insider Buying and Selling
In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 15,286 shares of the company's stock, valued at $8,084,459.68. This trade represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.
Cavco Industries Company Profile
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Free Report)
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.
Further Reading
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