Harbor Capital Advisors Inc. Sells 16,940 Shares of Cavco Industries, Inc. $CVCO

Harbor Capital Advisors Inc. cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 71.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,851 shares of the construction company’s stock after selling 16,940 shares during the period. Harbor Capital Advisors Inc. owned about 0.09% of Cavco Industries worth $3,979,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CVCO. Farther Finance Advisors LLC grew its position in Cavco Industries by 151.4% in the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after acquiring an additional 53 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after purchasing an additional 65 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Cavco Industries by 1,814.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after purchasing an additional 127 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Cavco Industries during the 3rd quarter valued at approximately $86,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Cavco Industries by 2,850.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock valued at $92,000 after buying an additional 171 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the transaction, the director owned 6,669 shares of the company’s stock, valued at $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVCO shares. Zacks Research cut shares of Cavco Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $550.00.

Cavco Industries Trading Down 0.0%

NASDAQ CVCO opened at $603.27 on Thursday. The stock has a market cap of $4.71 billion, a PE ratio of 24.79 and a beta of 1.28. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $618.03. The company’s 50-day moving average price is $573.35 and its 200-day moving average price is $513.31.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.30 by $0.25. The company had revenue of $556.53 million during the quarter, compared to analysts’ expectations of $542.92 million. Cavco Industries had a net margin of 9.18% and a return on equity of 19.13%. As a group, sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.