The Manufacturers Life Insurance Company Buys 87 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

The Manufacturers Life Insurance Company raised its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 4,602 shares of the construction company’s stock after purchasing an additional 87 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cavco Industries were worth $1,593,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CVCO. Capital World Investors increased its holdings in shares of Cavco Industries by 2.9% in the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after purchasing an additional 17,125 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Cavco Industries in the second quarter worth about $4,245,000. Confluence Investment Management LLC bought a new stake in shares of Cavco Industries in the first quarter worth about $4,679,000. AYAL Capital Advisors Ltd increased its holdings in shares of Cavco Industries by 61.4% in the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after purchasing an additional 11,361 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in shares of Cavco Industries in the second quarter worth about $3,640,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the transaction, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,663 shares of company stock valued at $1,882,930 over the last ninety days. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Cavco Industries in a report on Friday, August 2nd. Craig Hallum lifted their target price on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

Cavco Industries Price Performance

Shares of NASDAQ CVCO opened at $417.91 on Friday. The business’s 50 day moving average is $406.09 and its two-hundred day moving average is $381.98. Cavco Industries, Inc. has a 1-year low of $233.84 and a 1-year high of $444.90. The stock has a market capitalization of $3.46 billion, a P/E ratio of 22.77 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The company had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. During the same period in the previous year, the firm earned $5.29 earnings per share. As a group, equities research analysts anticipate that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

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.