Natixis Sells 900 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Natixis lessened its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 91.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 84 shares of the construction company's stock after selling 900 shares during the period. Natixis' holdings in Cavco Industries were worth $37,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in 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 period. Loomis Sayles & Co. L P bought a new position in Cavco Industries during the fourth quarter valued at approximately $20,382,000. Norges Bank purchased a new stake in Cavco Industries in the fourth quarter worth approximately $17,730,000. Invesco Ltd. raised its stake in 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 buying an additional 28,730 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in shares of Cavco Industries during the 4th quarter valued at $9,863,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insiders Place Their Bets

In other 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 sale, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This trade represents a 20.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jack S. Brandom sold 1,000 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $538.00, for a total transaction of $538,000.00. Following the completion of the transaction, the insider now directly owns 1,176 shares of the company's stock, valued at $632,688. This represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,894 shares of company stock worth $4,140,833. Company insiders own 1.60% of the company's stock.

Cavco Industries Stock Performance

Shares of Cavco Industries stock traded down $7.02 on Wednesday, hitting $490.95. 27,368 shares of the company's stock were exchanged, compared to its average volume of 62,260. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $544.08. The company has a 50-day simple moving average of $501.74 and a 200-day simple moving average of $483.84. The stock has a market capitalization of $3.98 billion, a PE ratio of 24.16 and a beta of 1.19.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. On average, analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVCO. Wedbush reaffirmed a "neutral" rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

Cavco Industries 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.