Intech Investment Management LLC Increases Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Intech Investment Management LLC raised its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 91.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,160 shares of the construction company’s stock after acquiring an additional 1,986 shares during the quarter. Intech Investment Management LLC’s holdings in Cavco Industries were worth $1,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cibc World Markets Corp acquired a new stake in shares of Cavco Industries in the fourth quarter valued at $345,000. Commonwealth Equity Services LLC purchased a new stake in Cavco Industries in the fourth quarter valued at $308,000. Avantax Advisory Services Inc. boosted its stake in Cavco Industries by 8.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 720 shares of the construction company’s stock valued at $321,000 after acquiring an additional 55 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of Cavco Industries by 4.8% during the fourth quarter. Moran Wealth Management LLC now owns 1,453 shares of the construction company’s stock worth $648,000 after purchasing an additional 66 shares during the last quarter. Finally, Amundi grew its holdings in shares of Cavco Industries by 181.4% during the fourth quarter. Amundi now owns 4,089 shares of the construction company’s stock worth $1,817,000 after purchasing an additional 2,636 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

CVCO has been the subject of a number of research analyst reports. Wedbush reissued a “neutral” rating and issued a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Insider Activity

In other news, Director Susan L. Blount sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total transaction of $1,014,360.00. Following the transaction, the director now directly owns 2,836 shares in the company, valued at $1,438,362.48. The trade was a 41.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $538.00, for a total transaction of $538,000.00. Following the completion of the sale, the insider now owns 1,176 shares of the company’s stock, valued at approximately $632,688. The trade was a 45.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,644 shares of company stock valued at $4,494,608. Company insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $521.48 on Friday. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08. The firm has a market cap of $4.23 billion, a PE ratio of 25.66 and a beta of 1.34. The firm’s fifty day moving average is $505.96 and its two-hundred day moving average is $469.16.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current 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.