Boston Trust Walden Corp Sells 14,884 Shares of Cavco Industries, Inc. $CVCO

Boston Trust Walden Corp lowered its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 9.6% in the 1st quarter, Holdings Channel reports. The firm owned 139,783 shares of the construction company’s stock after selling 14,884 shares during the period. Boston Trust Walden Corp’s holdings in Cavco Industries were worth $67,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CVCO. Keybank National Association OH purchased a new stake in shares of Cavco Industries during the 1st quarter valued at about $273,000. Pictet Asset Management Holding SA boosted its holdings in Cavco Industries by 4.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,303 shares of the construction company’s stock worth $631,000 after purchasing an additional 54 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Cavco Industries in the first quarter worth approximately $1,647,000. OP Asset Management Ltd purchased a new stake in Cavco Industries in the first quarter worth approximately $88,000. Finally, Sheets Smith Wealth Management grew its position in Cavco Industries by 0.9% in the 1st quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock worth $1,090,000 after purchasing an additional 20 shares during the period. Institutional investors own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

CVCO has been the topic of several research analyst reports. UBS Group began coverage on Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $625.00.

Insider Activity at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the transaction, the director directly owned 6,169 shares in the company, valued at approximately $3,632,060.44. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer directly owned 1,105 shares of the company’s stock, valued at $594,213.75. This represents a 15.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,541 shares of company stock worth $2,121,932. Corporate insiders own 1.70% of the company’s stock.

Cavco Industries Trading Down 0.5%

Shares of CVCO stock opened at $598.73 on Friday. Cavco Industries, Inc. has a 12 month low of $397.38 and a 12 month high of $713.01. The stock has a market cap of $4.62 billion, a P/E ratio of 24.98 and a beta of 1.28. The company has a 50 day simple moving average of $542.27 and a two-hundred day simple moving average of $556.61.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. The firm had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. As a group, equities analysts forecast that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.