Marks Group Wealth Management Inc Sells 3,390 Shares of Cavco Industries, Inc. $CVCO

Marks Group Wealth Management Inc cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 53.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,988 shares of the construction company’s stock after selling 3,390 shares during the period. Marks Group Wealth Management Inc’s holdings in Cavco Industries were worth $1,447,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. UBS Group AG increased its holdings in shares of Cavco Industries by 31.5% in the fourth 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 period. JPMorgan Chase & Co. lifted its stake in shares of Cavco Industries by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company’s stock valued at $18,616,000 after acquiring an additional 13,694 shares during the last quarter. M&T Bank Corp purchased a new stake in Cavco Industries during the 4th quarter valued at about $9,501,000. Pier Capital LLC boosted its holdings in Cavco Industries by 90.8% during the 4th quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock valued at $7,150,000 after acquiring an additional 5,761 shares during the period. Finally, Intech Investment Management LLC grew its position in Cavco Industries by 58.0% during the 4th quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock worth $3,406,000 after acquiring an additional 2,116 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, UBS Group assumed coverage on shares of Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $625.00.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $585.49 on Friday. Cavco Industries, Inc. has a fifty-two week low of $397.38 and a fifty-two week high of $713.01. The stock has a 50 day simple moving average of $553.79 and a two-hundred day simple moving average of $554.53. The stock has a market cap of $4.51 billion, a P/E ratio of 24.43 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The firm had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Sell-side analysts predict that Cavco Industries, Inc. will post 24.5 earnings per share for the current year.

Insider Buying and Selling

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the transaction, the executive vice president directly owned 9,147 shares of the company’s stock, valued at approximately $5,716,875. The trade was a 13.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was 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 owned 1,105 shares of the company’s stock, valued at $594,213.75. This trade represents a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,541 shares of company stock valued at $2,121,932 over the last quarter. 1.70% of the stock is owned by company insiders.

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.