JPMorgan Chase & Co. Has $18.62 Million Stake in Cavco Industries, Inc. $CVCO

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Salomon & Ludwin LLC bought a new position in shares of Cavco Industries during the 3rd quarter valued at $31,000. Osaic Holdings Inc. increased its position in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares during the last quarter. Danske Bank A S acquired a new position in Cavco Industries during the third quarter worth $58,000. Mather Group LLC. bought a new position in Cavco Industries during the third quarter valued at about $63,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Cavco Industries by 72.5% in the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after buying an additional 50 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Insider Transactions at Cavco Industries

In other news, Director Steven W. Moster purchased 300 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were purchased at an average cost of $456.23 per share, for a total transaction of $136,869.00. Following the completion of the purchase, the director directly owned 2,976 shares of the company’s stock, valued at approximately $1,357,740.48. The trade was a 11.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William C. Boor purchased 1,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was purchased at an average cost of $495.00 per share, with a total value of $495,000.00. Following the acquisition, the chief executive officer owned 48,022 shares in the company, valued at approximately $23,770,890. This represents a 2.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 1,800 shares of company stock worth $866,592. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Zelman & Associates raised Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $550.00.

Cavco Industries Trading Up 2.2%

CVCO opened at $485.50 on Thursday. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $713.01. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 21.09 and a beta of 1.28. The business has a 50 day moving average of $565.41 and a 200-day moving average of $570.54.

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

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.