Everence Capital Management Inc. Lowers Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Everence Capital Management Inc. decreased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 31.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,330 shares of the construction company’s stock after selling 620 shares during the period. Everence Capital Management Inc.’s holdings in Cavco Industries were worth $593,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after acquiring an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new position in Cavco Industries during the third quarter worth about $64,000. Blue Trust Inc. grew its position in Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after purchasing an additional 90 shares in the last quarter. GAMMA Investing LLC increased its stake in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after buying an additional 64 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Cavco Industries during the 3rd quarter worth approximately $208,000. Institutional investors own 95.56% of the company’s stock.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the transaction, the chief accounting officer now directly owns 981 shares in the company, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the sale, the director now owns 2,086 shares in the company, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,100 shares of company stock worth $535,642. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

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

Cavco Industries Trading Up 1.9 %

NASDAQ:CVCO opened at $447.28 on Friday. Cavco Industries, Inc. has a 12 month low of $304.10 and a 12 month high of $544.08. The firm’s 50 day moving average is $471.12 and its 200 day moving average is $422.61. The stock has a market capitalization of $3.63 billion, a PE ratio of 25.28 and a beta of 1.33.

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, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The firm had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same period in the previous year, the company posted $4.76 earnings per share. Research analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

About Cavco Industries

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.