Truist Financial Corp Grows Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Truist Financial Corp lifted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,293 shares of the construction company’s stock after buying an additional 96 shares during the quarter. Truist Financial Corp owned approximately 0.15% of Cavco Industries worth $5,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after buying an additional 82 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries during the 3rd quarter worth $64,000. Blue Trust Inc. raised its stake in shares of Cavco Industries by 90.0% during the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after buying an additional 90 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after buying an additional 42 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Cavco Industries by 35.2% during the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Trading Down 1.8 %

Shares of CVCO stock opened at $520.81 on Friday. The firm has a 50-day moving average price of $480.38 and a 200 day moving average price of $451.99. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 25.63 and a beta of 1.35.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. As a group, research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVCO shares. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Craig Hallum boosted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush reissued a “neutral” rating and issued a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $503.31, for a total value of $62,913.75. Following the completion of the sale, the director now owns 2,736 shares in the company, valued at $1,377,056.16. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This trade represents a 26.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,519 shares of company stock worth $2,806,172 in the last 90 days. 1.60% of the stock is owned by company insiders.

About Cavco Industries

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.