Price T Rowe Associates Inc. MD Reduces Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Price T Rowe Associates Inc. MD reduced its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 1.23% of Cavco Industries worth $44,468,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. FMR LLC raised its stake in 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 purchasing an additional 160,899 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Cavco Industries during the fourth quarter worth approximately $5,376,000. Charles Schwab Investment Management Inc. grew its stake in Cavco Industries by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock worth $49,521,000 after acquiring an additional 1,524 shares during the period. New Age Alpha Advisors LLC acquired a new position in Cavco Industries in the 4th quarter valued at $215,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Cavco Industries during the 4th quarter worth $308,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Insider Activity

In other news, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the sale, the director now owns 2,836 shares of the company's stock, valued at $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This trade represents a 20.74 % 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 valued at $4,140,833. Company insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

CVCO has been the subject of several analyst reports. Wedbush reiterated a "neutral" rating and set a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a report on Friday, April 25th.

Cavco Industries Price Performance

CVCO stock traded up $13.72 during trading on Friday, reaching $512.41. 39,559 shares of the stock traded hands, compared to its average volume of 63,943. The business's 50 day moving average price is $500.28 and its 200-day moving average price is $484.85. The firm has a market capitalization of $4.15 billion, a PE ratio of 25.22 and a beta of 1.29. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating 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%. On average, equities research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

About Cavco Industries

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.