Principal Financial Group Inc. Cuts Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Principal Financial Group Inc. trimmed its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,333 shares of the construction company’s stock after selling 405 shares during the period. Principal Financial Group Inc. owned approximately 0.51% of Cavco Industries worth $17,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after purchasing an additional 57,278 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Cavco Industries by 91.8% in the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after acquiring an additional 22,451 shares during the last quarter. Atom Investors LP bought a new stake in shares of Cavco Industries in the 3rd quarter valued at approximately $7,572,000. Harbor Capital Advisors Inc. lifted its position in Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock worth $9,592,000 after buying an additional 13,331 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Cavco Industries by 6.1% in the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the transaction, the director now owns 2,086 shares of the company’s stock, valued at $1,012,878.16. The trade was a 26.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $503.31, for a total value of $62,913.75. Following the sale, the director now directly owns 2,736 shares in the company, valued at approximately $1,377,056.16. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,100 shares of company stock valued at $535,642 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Trading Down 0.3 %

Shares of Cavco Industries stock opened at $449.28 on Friday. The firm’s 50 day simple moving average is $468.25 and its two-hundred day simple moving average is $418.62. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 25.40 and a beta of 1.29. Cavco Industries, Inc. has a 12-month low of $304.10 and a 12-month high of $544.08.

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

Wall Street Analyst Weigh In

CVCO has been the topic of a number of recent analyst reports. Craig Hallum increased their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research note on Tuesday, December 3rd. Finally, StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Cavco Industries Company 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.