Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,333 shares of the construction company’s stock after selling 405 shares during the quarter. Principal Financial Group Inc.’s holdings in Cavco Industries were worth $17,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVCO. Blue Trust Inc. increased its position in shares of Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares during the last quarter. Farther Finance Advisors LLC increased 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 purchasing an additional 82 shares during the last quarter. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 64 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at approximately $138,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Cavco Industries during the first quarter worth approximately $197,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cavco Industries

In other news, Director Julia Sze sold 125 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This represents a 37.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,213 shares of company stock worth $1,729,458. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CVCO shares. Craig Hallum upped their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. Wedbush increased their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Cavco Industries Price Performance

Cavco Industries stock opened at $464.95 on Friday. The company has a market cap of $3.77 billion, a PE ratio of 26.28 and a beta of 1.24. Cavco Industries, Inc. has a 12 month low of $271.48 and a 12 month high of $484.80. The company has a fifty day moving average price of $430.71 and a two-hundred day moving average price of $392.72.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The business had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same quarter in the prior year, the firm earned $4.76 EPS. Equities research analysts anticipate 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.