Geode Capital Management LLC Increases Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Geode Capital Management LLC increased its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 6.1% in the third quarter, HoldingsChannel reports. The firm owned 224,384 shares of the construction company’s stock after acquiring an additional 12,822 shares during the quarter. Geode Capital Management LLC’s holdings in Cavco Industries were worth $96,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CVCO. Barclays PLC lifted its stake in Cavco Industries by 162.0% during the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after acquiring an additional 10,656 shares during the period. XTX Topco Ltd grew its position in Cavco Industries by 20.5% during the 3rd quarter. XTX Topco Ltd now owns 1,430 shares of the construction company’s stock worth $612,000 after purchasing an additional 243 shares during the period. iSAM Funds UK Ltd purchased a new position in shares of Cavco Industries during the 3rd quarter valued at about $208,000. Quadrature Capital Ltd acquired a new position in shares of Cavco Industries in the 3rd quarter valued at about $410,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Cavco Industries by 7.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 51,572 shares of the construction company’s stock worth $22,085,000 after buying an additional 3,615 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $452.12 on Thursday. The firm has a fifty day moving average of $466.66 and a 200 day moving average of $415.17. The firm has a market cap of $3.67 billion, a PE ratio of 25.56 and a beta of 1.29. Cavco Industries, Inc. has a one year low of $304.10 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The firm had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same quarter in the prior year, the firm earned $4.76 EPS. On average, equities analysts predict that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVCO shares. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Craig Hallum boosted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research report on Tuesday, December 3rd.

Insider Transactions at Cavco Industries

In related news, Director Julia Sze sold 125 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the transaction, the director now directly owns 2,086 shares in the company, valued at $1,012,878.16. This trade represents a 26.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,100 shares of company stock valued at $535,642 over the last ninety days. Insiders own 1.60% of the company’s stock.

Cavco Industries Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.