Price T Rowe Associates Inc. MD Has $44.47 Million Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Price T Rowe Associates Inc. MD reduced its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,651 shares of the construction company's stock after selling 5,416 shares during the period. Price T Rowe Associates Inc. MD owned about 1.23% of Cavco Industries worth $44,468,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Cavco Industries in the 4th quarter valued at about $67,000. Smartleaf Asset Management LLC increased its stake 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 period. Blue Trust Inc. lifted its position in Cavco Industries by 28.9% in 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after buying an additional 42 shares during the period. Finally, KBC Group NV grew its holdings in shares of Cavco Industries by 35.2% during the 4th quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after acquiring an additional 86 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Price Performance

Shares of CVCO stock traded down $0.77 on Monday, hitting $511.64. The company's stock had a trading volume of 6,390 shares, compared to its average volume of 63,809. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 25.16 and a beta of 1.29. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08. The firm's fifty day moving average price is $500.28 and its 200-day moving average price is $485.37.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Analysts predict that Cavco Industries, Inc. will post 21.93 EPS 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 company's stock in a transaction 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 sale, the director now directly owns 15,286 shares in the company, valued at $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 is available at this hyperlink. Also, insider Matthew A. Nino sold 894 shares of Cavco Industries stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total value of $472,952.82. Following the transaction, the insider now directly owns 771 shares of the company's stock, valued at approximately $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,894 shares of company stock worth $4,140,833. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CVCO. StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Wedbush reissued a "neutral" rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

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.