Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 12.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,120 shares of the construction company’s stock after acquiring an additional 237 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cavco Industries were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of Cavco Industries by 390.5% in the third 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 Cavco Industries in the 3rd quarter worth about $64,000. Blue Trust Inc. raised its holdings in Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after purchasing an additional 90 shares during the period. GAMMA Investing LLC raised its holdings in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after purchasing an additional 64 shares during the period. Finally, Avanza Fonder AB acquired a new position in Cavco Industries in the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

CVCO has been the subject of a number of analyst reports. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a report on Tuesday, December 3rd. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Craig Hallum upped their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Insider Activity

In related news, Director Susan L. Blount sold 750 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the transaction, the director now directly owns 2,086 shares in the company, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 100 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,850 shares of company stock worth $889,417 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $471.76 on Wednesday. The business has a 50 day simple moving average of $474.28 and a two-hundred day simple moving average of $437.15. Cavco Industries, Inc. has a 12 month low of $324.77 and a 12 month high of $544.08. The stock has a market capitalization of $3.83 billion, a P/E ratio of 26.67 and a beta of 1.33.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to analyst estimates 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 prior year, the business earned $4.76 earnings per share. As a group, research analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Cavco Industries 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.