Fisher Asset Management LLC Boosts Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Fisher Asset Management LLC grew its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 8.5% in the third quarter, Holdings Channel reports. The institutional investor owned 71,487 shares of the construction company’s stock after buying an additional 5,620 shares during the period. Fisher Asset Management LLC’s holdings in Cavco Industries were worth $30,614,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CVCO. Cerity Partners LLC increased its stake in shares of Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares during the period. Citigroup Inc. boosted its holdings in Cavco Industries by 61.9% in the 3rd quarter. Citigroup Inc. now owns 16,228 shares of the construction company’s stock valued at $6,949,000 after purchasing an additional 6,203 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cavco Industries by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after purchasing an additional 5,935 shares in the last quarter. Intech Investment Management LLC increased its position in Cavco Industries by 182.3% during the 3rd quarter. Intech Investment Management LLC now owns 2,174 shares of the construction company’s stock worth $931,000 after purchasing an additional 1,404 shares during the period. Finally, Moran Wealth Management LLC raised its stake in shares of Cavco Industries by 35.3% during the 3rd quarter. Moran Wealth Management LLC now owns 1,387 shares of the construction company’s stock worth $594,000 after buying an additional 362 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CVCO. Craig Hallum lifted their price target on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush upped their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th.

Insider Transactions at Cavco Industries

In related news, Director Julia Sze sold 125 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the sale, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the transaction, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,313 shares of company stock valued at $1,780,681 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Cavco Industries Trading Down 2.2 %

CVCO stock opened at $521.23 on Wednesday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 29.46 and a beta of 1.24. The firm has a 50 day moving average of $444.55 and a 200-day moving average of $400.17. Cavco Industries, Inc. has a 12-month low of $271.48 and a 12-month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the previous year, the firm posted $4.76 earnings per share. Sell-side analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

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.