Cavco Industries (NASDAQ:CVCO) CAO Paul Bigbee Sells 342 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 342 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the transaction, the chief accounting officer owned 736 shares in the company, valued at approximately $435,712. This represents a 31.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paul Bigbee also recently made the following trade(s):

• On Thursday, May 28th, Paul Bigbee sold 200 shares of Cavco Industries stock. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $598.85 on Thursday. The stock has a fifty day moving average price of $584.73 and a 200-day moving average price of $543.32. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 26.06 and a beta of 1.29. Cavco Industries, Inc. has a fifty-two week low of $443.33 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The company had revenue of $609.96 million during the quarter, compared to the consensus estimate of $590.54 million. Research analysts predict that Cavco Industries, Inc. will post 22.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVCO. Zacks Research cut shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zelman & Associates lowered Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Finally, UBS Group initiated coverage on Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cavco Industries currently has a consensus rating of “Hold” and a consensus price target of $700.00.

Hedge Funds Weigh In On Cavco Industries

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its position in Cavco Industries by 852,093.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after acquiring an additional 1,797,917 shares during the period. BlackRock Inc. bought a new position in shares of Cavco Industries during the 2nd quarter valued at approximately $767,112,000. State Street Corp increased its stake in shares of Cavco Industries by 6.1% during the 2nd quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after purchasing an additional 21,837 shares during the last quarter. Boston Partners increased its stake in shares of Cavco Industries by 82.8% during the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after purchasing an additional 167,230 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Cavco Industries by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock worth $137,569,000 after purchasing an additional 1,018 shares during the period. 95.56% of the stock is owned by institutional investors.

About Cavco Industries

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.