Norges Bank bought a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 83,517 shares of the construction company’s stock, valued at approximately $10,889,000. Norges Bank owned 0.92% of Cavco Industries as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of CVCO. Flinton Capital Management LLC bought a new position in shares of Cavco Industries during the 4th quarter valued at $48,000. Quantamental Technologies LLC purchased a new stake in shares of Cavco Industries in the 4th quarter worth $91,000. Advisor Group Inc. increased its stake in shares of Cavco Industries by 8.6% in the 4th quarter. Advisor Group Inc. now owns 962 shares of the construction company’s stock worth $126,000 after purchasing an additional 76 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Cavco Industries in the 4th quarter worth $322,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Cavco Industries by 352.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,733 shares of the construction company’s stock worth $356,000 after purchasing an additional 2,129 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Cavco Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. Craig Hallum cut their price target on Cavco Industries from $170.00 to $128.00 and set an “in-line” rating for the company in a research note on Wednesday, February 6th.
CVCO stock traded up $3.00 during trading on Wednesday, reaching $133.00. The company’s stock had a trading volume of 211,700 shares, compared to its average volume of 97,647. Cavco Industries, Inc. has a 1 year low of $112.00 and a 1 year high of $261.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 2.42. The firm has a market capitalization of $1.18 billion, a PE ratio of 15.95 and a beta of 1.94.
About Cavco Industries
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
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