Key Points
- Cavco Industries EVP Allison Aden sold 1,208 shares on June 12 at an average price of $600, for total proceeds of $724,800. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- After the transaction, Aden still owned 10,647 shares valued at about $6.39 million, representing a 10.19% reduction in her position.
- Cavco recently reported better-than-expected EPS of $5.42 versus estimates of $5.30, while analysts currently rate the stock a Moderate Buy with a consensus price target of $625.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) EVP Allison Aden sold 1,208 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $600.00, for a total transaction of $724,800.00. Following the completion of the transaction, the executive vice president directly owned 10,647 shares of the company's stock, valued at $6,388,200. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Allison Aden also recently made the following trade(s):
- On Friday, May 15th, Allison Aden sold 129 shares of Cavco Industries stock. The stock was sold at an average price of $455.76, for a total transaction of $58,793.04.
Cavco Industries Stock Down 0.0%
NASDAQ:CVCO opened at $592.48 on Tuesday. Cavco Industries, Inc. has a 12-month low of $393.80 and a 12-month high of $713.01. The firm has a market capitalization of $4.55 billion, a PE ratio of 24.72 and a beta of 1.30. The firm has a 50-day moving average price of $518.38 and a 200 day moving average price of $555.34.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The firm had revenue of $550.13 million during the quarter, compared to analyst estimates of $571.06 million. On average, research analysts expect that Cavco Industries, Inc. will post 25 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Zacks Research raised shares of Cavco Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. UBS Group began coverage on shares of Cavco Industries in a research report on Friday, June 5th. They issued a "buy" rating and a $700.00 price target for the company. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cavco Industries in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $625.00.
Read Our Latest Stock Analysis on CVCO
Institutional Trading of Cavco Industries
Several hedge funds have recently modified their holdings of CVCO. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cavco Industries by 852,093.4% during 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 in the last quarter. Boston Partners increased its holdings in shares of Cavco Industries by 82.8% during 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 in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cavco Industries by 53.6% during 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Cavco Industries by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company's stock worth $43,806,000 after buying an additional 40,832 shares in the last quarter. Finally, Bamco Inc. NY acquired a new stake in shares of Cavco Industries during the fourth quarter worth approximately $21,903,000. Institutional investors and hedge funds own 95.56% of the company's stock.
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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