Cavco Industries, Inc. $CVCO Stake Increased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 18,160.0% in the third quarter, Holdings Channel reports. The fund owned 913 shares of the construction company’s stock after purchasing an additional 908 shares during the period. Provenance Wealth Advisors LLC’s holdings in Cavco Industries were worth $512,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVCO. Silvant Capital Management LLC purchased a new position in shares of Cavco Industries during the 2nd quarter worth $25,000. Global Retirement Partners LLC acquired a new position in shares of Cavco Industries during the 2nd quarter valued at about $28,000. Root Financial Partners LLC purchased a new stake in shares of Cavco Industries in the third quarter valued at about $28,000. Signaturefd LLC grew its holdings in shares of Cavco Industries by 96.3% in the third quarter. Signaturefd LLC now owns 53 shares of the construction company’s stock valued at $30,000 after purchasing an additional 26 shares during the period. Finally, IFP Advisors Inc increased its position in Cavco Industries by 2,850.0% during the second quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock worth $36,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Oppenheimer reaffirmed an “outperform” rating and set a $735.00 price target (up from $720.00) on shares of Cavco Industries in a research report on Monday. Weiss Ratings raised shares of Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Northland Securities assumed coverage on Cavco Industries in a report on Wednesday, October 28th. They issued an “outperform” rating and a $650.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $695.00.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $643.97 on Friday. The firm has a market capitalization of $4.91 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.84 and a beta of 1.29. Cavco Industries, Inc. has a 1 year low of $443.33 and a 1 year high of $713.01. The firm’s 50-day moving average is $555.15 and its two-hundred day moving average is $551.48.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $7.17 EPS for the quarter, beating the consensus estimate of $5.52 by $1.65. The business had revenue of $656.38 million during the quarter, compared to analyst estimates of $613.12 million. Cavco Industries had a net margin of 7.68% and a return on equity of 16.60%. Analysts expect that Cavco Industries, Inc. will post 24.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Kerley sold 459 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $676.87, for a total transaction of $310,683.33. Following the sale, the director directly owned 6,000 shares of the company’s stock, valued at $4,061,220. This represents a 7.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 342 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total transaction of $202,464.00. Following the sale, the chief accounting officer owned 736 shares in the company, valued at approximately $435,712. This trade represents a 31.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,343 shares of company stock valued at $884,417 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Cavco Industries Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.