JPMorgan Chase & Co. Grows Stake in Cavco Industries, Inc. $CVCO

JPMorgan Chase & Co. increased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 74.6% during the third quarter, Holdings Channel reports. The firm owned 32,057 shares of the construction company’s stock after acquiring an additional 13,694 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cavco Industries were worth $18,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVCO. Salomon & Ludwin LLC bought a new stake in shares of Cavco Industries during the third quarter valued at approximately $31,000. Osaic Holdings Inc. grew its stake in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after acquiring an additional 65 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Cavco Industries by 1,814.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock valued at $58,000 after acquiring an additional 127 shares during the last quarter. Mather Group LLC. purchased a new stake in Cavco Industries in the 3rd quarter worth $63,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Cavco Industries during the 3rd quarter valued at about $86,000. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $563.11 on Tuesday. The firm has a market capitalization of $4.37 billion, a PE ratio of 24.46 and a beta of 1.27. The stock’s fifty day moving average is $603.22 and its 200 day moving average is $571.78. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The firm had revenue of $580.99 million for the quarter, compared to the consensus estimate of $593.37 million. Equities analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Activity at Cavco Industries

In other news, CEO William C. Boor acquired 1,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 4th. The shares were bought at an average cost of $495.00 per share, with a total value of $495,000.00. Following the transaction, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at $23,770,890. This trade represents a 2.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven W. Moster acquired 300 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was purchased at an average cost of $456.23 per share, with a total value of $136,869.00. Following the purchase, the director owned 2,976 shares of the company’s stock, valued at $1,357,740.48. The trade was a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,800 shares of company stock worth $866,592. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CVCO has been the topic of several research reports. CJS Securities raised Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Zelman & Associates raised Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. Finally, Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $550.00.

Cavco Industries Company Profile

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.