Principal Financial Group Inc. Sells 289 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Principal Financial Group Inc. reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 52,265 shares of the construction company’s stock after selling 289 shares during the quarter. Principal Financial Group Inc.’s holdings in Cavco Industries were worth $11,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Cavco Industries by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 789,464 shares of the construction company’s stock worth $190,142,000 after buying an additional 34,461 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cavco Industries by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 382,763 shares of the construction company’s stock worth $78,759,000 after purchasing an additional 5,731 shares in the last quarter. State Street Corp raised its stake in Cavco Industries by 3.4% in the 1st quarter. State Street Corp now owns 322,818 shares of the construction company’s stock valued at $77,751,000 after acquiring an additional 10,654 shares during the period. Broad Bay Capital Management LP grew its holdings in Cavco Industries by 9.0% in the 3rd quarter. Broad Bay Capital Management LP now owns 292,000 shares of the construction company’s stock valued at $60,082,000 after buying an additional 24,000 shares in the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Cavco Industries by 0.5% during the 4th quarter. Boston Trust Walden Corp now owns 248,266 shares of the construction company’s stock worth $56,170,000 after purchasing an additional 1,246 shares in the last quarter. 93.32% of the stock is owned by institutional investors.

Cavco Industries Stock Down 2.4 %

Shares of NASDAQ CVCO opened at $270.81 on Friday. The firm has a market capitalization of $2.35 billion, a P/E ratio of 10.06 and a beta of 1.22. The stock’s 50-day simple moving average is $294.66 and its two-hundred day simple moving average is $266.75. Cavco Industries, Inc. has a twelve month low of $179.47 and a twelve month high of $318.00.

Insiders Place Their Bets

In other news, insider Gavin Ryan sold 3,000 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $290.03, for a total transaction of $870,090.00. Following the transaction, the insider now directly owns 529 shares in the company, valued at approximately $153,425.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wedbush raised their target price on Cavco Industries from $410.00 to $425.00 in a research note on Monday. Craig Hallum cut their target price on Cavco Industries from $357.00 to $338.00 in a research report on Monday. Finally, StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday.

Cavco Industries Company Profile

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Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.