Steven Moster Purchases 300 Shares of Cavco Industries (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Steven Moster bought 300 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average cost of $456.23 per share, for a total transaction of $136,869.00. Following the completion of the transaction, the director directly owned 2,976 shares of the company’s stock, valued at approximately $1,357,740.48. The trade was a 11.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Cavco Industries Price Performance

CVCO stock traded up $22.81 on Wednesday, hitting $505.46. 352,357 shares of the company were exchanged, compared to its average volume of 244,905. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $713.01. The business’s fifty day moving average is $612.00 and its two-hundred day moving average is $553.95. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 21.96 and a beta of 1.32.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The company had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. Equities research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research analyst reports. Zacks Research lowered Cavco Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. One 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. Based on data from MarketBeat, Cavco Industries has an average rating of “Moderate Buy” and a consensus price target of $550.00.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently bought and sold shares of CVCO. Cascade Investment Advisors Inc. acquired a new position in Cavco Industries during the 2nd quarter worth $1,098,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Cavco Industries in the 3rd quarter valued at about $819,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cavco Industries by 74.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,317 shares of the construction company’s stock worth $9,580,000 after purchasing an additional 6,942 shares during the last quarter. Confluence Investment Management LLC grew its stake in Cavco Industries by 62.6% in the third quarter. Confluence Investment Management LLC now owns 12,287 shares of the construction company’s stock worth $7,135,000 after purchasing an additional 4,729 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in Cavco Industries in the second quarter valued at about $1,238,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Company Profile

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.