Legal & General Group Plc Buys 424 Shares of Cavco Industries, Inc. $CVCO

by · The Markets Daily

Legal & General Group Plc lifted its stake in Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,817 shares of the construction company’s stock after acquiring an additional 424 shares during the quarter. Legal & General Group Plc’s holdings in Cavco Industries were worth $9,478,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in Cavco Industries by 151.4% in the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock valued at $38,000 after purchasing an additional 53 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Cavco Industries by 1,814.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock valued at $58,000 after buying an additional 127 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cavco Industries by 2,850.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock valued at $92,000 after buying an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Cavco Industries during the first quarter worth $112,000. Finally, ST Germain D J Co. Inc. acquired a new position in Cavco Industries during the second quarter worth $156,000. Institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVCO. Wedbush reissued a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, November 24th. Finally, Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Cavco Industries currently has a consensus rating of “Buy” and an average target price of $550.00.

Read Our Latest Stock Analysis on CVCO

Insider Activity at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the transaction, the director owned 6,669 shares of the company’s stock, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $584.22 on Tuesday. The stock has a market cap of $4.56 billion, a PE ratio of 25.32 and a beta of 1.21. The firm has a 50-day moving average of $556.70 and a 200-day moving average of $498.22. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $613.77.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $6.30 by $0.25. The business had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. As a group, analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

About Cavco Industries

(Free Report)

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.

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