Cavco Industries, Inc. (NASDAQ:CVCO) Holdings Raised by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,190 shares of the construction company's stock after buying an additional 1,381 shares during the period. Wells Fargo & Company MN owned about 0.05% of Cavco Industries worth $1,870,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Loomis Sayles & Co. L P bought a new position in shares of Cavco Industries during the 4th quarter worth approximately $20,382,000. Norges Bank acquired a new stake in shares of Cavco Industries in the 4th quarter worth $17,730,000. Raymond James Financial Inc. purchased a new position in Cavco Industries during the 4th quarter worth $5,967,000. JPMorgan Chase & Co. increased its position in Cavco Industries by 55.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,887 shares of the construction company's stock valued at $15,368,000 after buying an additional 12,780 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Cavco Industries in the fourth quarter valued at about $5,376,000. 95.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wedbush restated a "neutral" rating and issued a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

Cavco Industries Stock Performance

Shares of CVCO traded up $9.08 during midday trading on Thursday, hitting $502.93. 6,664 shares of the stock were exchanged, compared to its average volume of 63,800. The firm has a market cap of $4.08 billion, a P/E ratio of 24.74 and a beta of 1.19. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The stock has a fifty day simple moving average of $501.20 and a 200 day simple moving average of $483.91.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.75% and a return on equity of 16.17%. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In related news, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total value of $1,014,360.00. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew A. Nino sold 894 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total transaction of $472,952.82. Following the completion of the sale, the insider now owns 771 shares in the company, valued at approximately $407,882.13. This trade represents a 53.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,894 shares of company stock worth $4,140,833 over the last 90 days. Company insiders own 1.60% of the company's stock.

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.