Paul Bigbee Sells 200 Shares of Cavco Industries (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 200 shares of Cavco Industries stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the transaction, the chief accounting officer directly owned 1,105 shares of the company’s stock, valued at approximately $594,213.75. This trade represents a 15.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cavco Industries Price Performance

Shares of CVCO opened at $545.93 on Wednesday. The firm has a 50-day moving average of $499.76 and a 200-day moving average of $554.67. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The company has a market cap of $4.19 billion, a PE ratio of 22.78 and a beta of 1.30.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The company had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Analysts expect that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVCO. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $550.00.

Institutional Trading of Cavco Industries

Hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its stake in shares of Cavco Industries by 31.5% during the 4th quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after buying an additional 9,589 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Cavco Industries by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company’s stock worth $18,616,000 after buying an additional 13,694 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Cavco Industries by 22.0% during the 3rd quarter. Bessemer Group Inc. now owns 66,614 shares of the construction company’s stock worth $38,684,000 after buying an additional 11,996 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Cavco Industries during the 3rd quarter worth about $665,000. Finally, Pier Capital LLC lifted its stake in shares of Cavco Industries by 90.8% during the 4th quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock worth $7,150,000 after buying an additional 5,761 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.