Key Points
- Cavco Industries EVP Allison Aden sold 129 shares on May 15 at an average price of $455.76, totaling about $58,793. The sale was made to cover tax withholding tied to vested equity awards.
- After the transaction, Aden directly held 8,806 shares valued at roughly $4.01 million, representing a 1.44% decrease in ownership.
- Cavco stock was trading up 1.4% at $464.71, while analysts maintained a Moderate Buy consensus with a $550 price target. Institutional investors continue to own the vast majority of shares, at 95.56%.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) EVP Allison Aden sold 129 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the sale, the executive vice president directly owned 8,806 shares in the company, valued at approximately $4,013,422.56. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Cavco Industries Trading Up 1.4%
CVCO stock opened at $464.71 on Wednesday. The firm has a market cap of $3.61 billion, a P/E ratio of 20.19 and a beta of 1.31. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The stock's 50 day simple moving average is $496.41 and its 200 day simple moving average is $556.57.
Institutional Investors Weigh In On Cavco Industries
Several large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in Cavco Industries by 852,093.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company's stock worth $1,062,226,000 after buying an additional 1,797,917 shares during the period. State Street Corp increased its position in Cavco Industries by 6.1% in the second quarter. State Street Corp now owns 380,682 shares of the construction company's stock worth $165,380,000 after buying an additional 21,837 shares during the period. Boston Partners increased its position in Cavco Industries by 82.8% in the third quarter. Boston Partners now owns 369,177 shares of the construction company's stock worth $213,866,000 after buying an additional 167,230 shares during the period. Geode Capital Management LLC increased its position in Cavco Industries by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company's stock worth $137,569,000 after buying an additional 1,018 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Cavco Industries by 53.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company's stock worth $126,166,000 after buying an additional 74,542 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CVCO has been the topic of several research reports. Zacks Research raised Cavco Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Weiss Ratings lowered Cavco Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, February 26th. Finally, Zelman & Associates raised Cavco Industries to an "outperform" rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $550.00.
View Our Latest Analysis on Cavco Industries
Cavco Industries Company Profile
(
Get Free Report)
Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.
Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.
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