Wellington Management Group LLP Cuts Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Wellington Management Group LLP trimmed its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 47.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,431 shares of the construction company’s stock after selling 119,592 shares during the period. Wellington Management Group LLP owned about 1.63% of Cavco Industries worth $59,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in shares of Cavco Industries by 8.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 763 shares of the construction company’s stock worth $340,000 after acquiring an additional 60 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Cavco Industries by 442.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,778 shares of the construction company’s stock worth $790,000 after purchasing an additional 1,450 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cavco Industries by 186.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 14,569 shares of the construction company’s stock valued at $6,501,000 after purchasing an additional 9,478 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Cavco Industries by 30.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,117 shares of the construction company’s stock valued at $498,000 after purchasing an additional 259 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Cavco Industries in the fourth quarter worth about $215,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jack S. Brandom sold 1,000 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $538.00, for a total value of $538,000.00. Following the sale, the insider now directly owns 1,176 shares of the company’s stock, valued at $632,688. This represents a 45.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Greenblatt sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company’s stock, valued at $8,084,459.68. This trade represents a 20.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,644 shares of company stock worth $4,494,608 over the last three months. 1.60% of the stock is owned by insiders.

Cavco Industries Trading Up 0.5 %

Shares of NASDAQ:CVCO opened at $488.94 on Friday. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 24.06 and a beta of 1.34. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08. The company has a 50-day moving average price of $517.10 and a 200 day moving average price of $477.73.

Cavco Industries (NASDAQ:CVCO) last posted 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 return on equity of 16.17% and a net margin of 8.75%. As a group, equities analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on CVCO. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Wedbush reiterated a “neutral” rating and set a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.

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.