Cavco Industries, Inc. $CVCO Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 29.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,586 shares of the construction company’s stock after selling 24,200 shares during the period. Handelsbanken Fonder AB’s holdings in Cavco Industries were worth $34,018,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Aviance Capital Partners LLC grew its position in Cavco Industries by 0.4% during the fourth quarter. Aviance Capital Partners LLC now owns 14,415 shares of the construction company’s stock valued at $8,516,000 after acquiring an additional 58 shares during the period. ProShare Advisors LLC raised its holdings in shares of Cavco Industries by 5.0% in the 4th quarter. ProShare Advisors LLC now owns 1,515 shares of the construction company’s stock worth $895,000 after purchasing an additional 72 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of Cavco Industries in the 4th quarter valued at about $555,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cavco Industries by 852,093.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after purchasing an additional 1,797,917 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Cavco Industries by 4.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,812 shares of the construction company’s stock worth $1,070,000 after purchasing an additional 75 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVCO has been the topic of several research reports. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings lowered shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average price target of $550.00.

Cavco Industries Stock Performance

CVCO stock opened at $464.71 on Wednesday. The firm has a market cap of $3.61 billion, a P/E ratio of 20.19 and a beta of 1.31. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $713.01. The stock has a 50-day simple moving average of $496.41 and a 200-day simple moving average of $556.57.

Insider Transactions at Cavco Industries

In other Cavco Industries news, EVP Allison Aden sold 129 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the completion of the sale, the executive vice president owned 8,806 shares of the company’s stock, valued at $4,013,422.56. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.60% of the stock is owned by company insiders.

Cavco Industries 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.