West Coast Financial LLC Lowers Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

by · The Cerbat Gem

West Coast Financial LLC trimmed its holdings in Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,650 shares of the construction company’s stock after selling 30 shares during the quarter. West Coast Financial LLC’s holdings in Cavco Industries were worth $707,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Lakewood Asset Management LLC increased its holdings in shares of Cavco Industries by 8.5% during the 3rd quarter. Lakewood Asset Management LLC now owns 902 shares of the construction company’s stock worth $386,000 after buying an additional 71 shares during the last quarter. GAMMA Investing LLC boosted its position in Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares during the period. Handelsbanken Fonder AB boosted its position in Cavco Industries by 1.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company’s stock worth $24,832,000 after acquiring an additional 800 shares during the period. SG Americas Securities LLC raised its position in Cavco Industries by 95.7% in the third quarter. SG Americas Securities LLC now owns 957 shares of the construction company’s stock worth $410,000 after acquiring an additional 468 shares in the last quarter. Finally, Aristides Capital LLC boosted its position in shares of Cavco Industries by 150.2% during the 2nd quarter. Aristides Capital LLC now owns 1,699 shares of the construction company’s stock valued at $588,000 after purchasing an additional 1,020 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Price Performance

CVCO traded up $4.76 during trading on Friday, hitting $422.67. 6,136 shares of the stock traded hands, compared to its average volume of 65,309. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $444.90. The business has a 50 day moving average price of $406.09 and a 200 day moving average price of $381.98. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 24.34 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The firm had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. During the same period last year, the company posted $5.29 EPS. On average, equities research analysts predict that Cavco Industries, Inc. will post 17.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVCO. Craig Hallum upped their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Cavco Industries in a report on Friday, August 2nd.

Get Our Latest Stock Report on Cavco Industries

Insider Transactions at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at $433,913.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Paul Bigbee sold 88 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Steven K. Like sold 575 shares of Cavco Industries stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the transaction, the senior vice president now owns 1,255 shares in the company, valued at $460,108.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,663 shares of company stock valued at $1,882,930. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Company Profile

(Free Report)

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.

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