The Manufacturers Life Insurance Company Sells 215 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

The Manufacturers Life Insurance Company lowered its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,291 shares of the construction company’s stock after selling 215 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cavco Industries were worth $1,915,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Cavco Industries in the fourth quarter worth about $67,000. Smartleaf Asset Management LLC grew its position in Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after acquiring an additional 128 shares during the last quarter. Blue Trust Inc. grew its position in Cavco Industries by 28.9% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after acquiring an additional 55 shares during the last quarter. KBC Group NV grew its position in Cavco Industries by 35.2% during the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after acquiring an additional 86 shares during the last quarter. Finally, ClearAlpha Technologies LP bought a new stake in Cavco Industries during the 4th quarter worth $204,000. Institutional investors own 95.56% of the company’s stock.

Insider Activity

In related news, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Wedbush reaffirmed a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Cavco Industries Stock Performance

CVCO stock opened at $524.14 on Monday. The company has a fifty day moving average price of $499.98 and a 200-day moving average price of $488.72. The company has a market capitalization of $4.25 billion, a P/E ratio of 25.79 and a beta of 1.29. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08.

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.