Cibc World Markets Corp Purchases New Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Cibc World Markets Corp acquired a new position in Cavco Industries, Inc. (NASDAQ:CVCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 774 shares of the construction company’s stock, valued at approximately $345,000.

Several other large investors have also modified their holdings of CVCO. Avior Wealth Management LLC bought a new stake in shares of Cavco Industries during the 3rd quarter worth approximately $64,000. Smartleaf Asset Management LLC grew its position in Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after acquiring an additional 128 shares during the last quarter. Blue Trust Inc. increased its stake in Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC lifted its position in shares of Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after purchasing an additional 42 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 1.9 %

Shares of CVCO stock opened at $522.48 on Tuesday. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The stock has a fifty day simple moving average of $509.23 and a two-hundred day simple moving average of $471.74. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 25.71 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVCO. Wedbush reaffirmed a “neutral” rating and issued a $550.00 price target (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 report on Monday, February 3rd.

Insider Transactions at Cavco Industries

In related news, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the sale, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This represents a 20.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the sale, the director now directly owns 2,836 shares in the company, valued at approximately $1,337,741.20. The trade was a 20.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,644 shares of company stock valued at $4,494,608. Company insiders own 1.60% of the company’s stock.

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.