Northwestern Mutual Wealth Management Co. Raises Stock Holdings in Cavco Industries, Inc. $CVCO

Northwestern Mutual Wealth Management Co. raised its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2,850.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 177 shares of the construction company’s stock after purchasing an additional 171 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cavco Industries were worth $92,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock valued at $82,000 after purchasing an additional 48 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Cavco Industries during the 1st quarter valued at about $112,000. DAVENPORT & Co LLC bought a new stake in shares of Cavco Industries during the 1st quarter valued at about $208,000. GAMMA Investing LLC grew its stake in shares of Cavco Industries by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company’s stock valued at $229,000 after purchasing an additional 123 shares during the period. Finally, SkyOak Wealth LLC bought a new stake in shares of Cavco Industries during the 1st quarter valued at about $246,000. 95.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total value of $240,275.00. Following the completion of the transaction, the director directly owned 7,169 shares in the company, valued at $3,445,062.95. This represents a 6.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan L. Blount sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total value of $1,298,250.00. Following the completion of the transaction, the director owned 3,126 shares of the company’s stock, valued at $1,623,331.80. The trade was a 44.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,600 shares of company stock worth $2,820,884 in the last three months. 1.60% of the stock is owned by company insiders.

Cavco Industries Stock Down 1.7%

NASDAQ:CVCO opened at $545.84 on Friday. The business’s 50-day simple moving average is $464.45 and its two-hundred day simple moving average is $477.26. The stock has a market cap of $4.32 billion, a PE ratio of 23.66 and a beta of 1.23. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $568.97.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.61. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The business had revenue of $556.86 million for the quarter, compared to analysts’ expectations of $524.97 million. Sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVCO. Wedbush reiterated a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Cavco Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $522.50.

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.