Pictet Asset Management Holding SA Has $498,000 Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Pictet Asset Management Holding SA grew its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 30.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,117 shares of the construction company’s stock after purchasing an additional 259 shares during the period. Pictet Asset Management Holding SA’s holdings in Cavco Industries were worth $498,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CVCO. New Age Alpha Advisors LLC acquired a new stake in Cavco Industries during the fourth quarter worth approximately $215,000. Norges Bank bought a new position in shares of Cavco Industries in the fourth quarter worth $17,730,000. Loomis Sayles & Co. L P acquired a new position in Cavco Industries in the fourth quarter valued at about $20,382,000. JPMorgan Chase & Co. lifted its position in Cavco Industries by 21.5% during the fourth quarter. JPMorgan Chase & Co. now owns 43,590 shares of the construction company’s stock worth $19,451,000 after purchasing an additional 7,703 shares during the period. Finally, Neumeier Poma Investment Counsel LLC grew its stake in Cavco Industries by 2.3% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 30,296 shares of the construction company’s stock worth $13,519,000 after buying an additional 679 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 15,286 shares in the company, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $538.00, for a total transaction of $538,000.00. Following the sale, the insider now directly owns 1,176 shares of the company’s stock, valued at approximately $632,688. This trade represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,644 shares of company stock valued at $4,494,608. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd.

Cavco Industries Price Performance

Shares of CVCO stock opened at $459.83 on Wednesday. The stock has a market capitalization of $3.73 billion, a PE ratio of 22.63 and a beta of 1.19. The business’s 50 day simple moving average is $516.57 and its 200 day simple moving average is $478.30. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating 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%. As a group, research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

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.