Matthew A. Nino Sells 894 Shares of Cavco Industries, Inc. (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) insider Matthew A. Nino sold 894 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total transaction of $472,952.82. Following the sale, the insider now owns 771 shares in the company, valued at $407,882.13. This represents a 53.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $528.60 on Friday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 26.01 and a beta of 1.35. The firm has a 50 day simple moving average of $474.10 and a 200 day simple moving average of $442.08. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results 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 net margin of 8.75% and a return on equity of 16.25%. As a group, analysts expect that Cavco Industries, Inc. will post 18 EPS for the current year.

Hedge Funds Weigh In On Cavco Industries

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Cavco Industries by 0.3% during the fourth quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company’s stock valued at $86,522,000 after acquiring an additional 614 shares during the last quarter. GW&K Investment Management LLC raised its stake in Cavco Industries by 1.0% during the fourth quarter. GW&K Investment Management LLC now owns 188,715 shares of the construction company’s stock worth $84,210,000 after buying an additional 1,931 shares during the last quarter. FMR LLC raised its stake in Cavco Industries by 7.0% during the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after buying an additional 8,829 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cavco Industries by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company’s stock worth $49,521,000 after buying an additional 1,524 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CVCO. Wedbush reissued a “neutral” rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Craig Hallum increased their price objective 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.

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.