JPMorgan Chase & Co. Increases Position in Cavco Industries, Inc. (NASDAQ:CVCO)

JPMorgan Chase & Co. grew its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 55.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,887 shares of the construction company’s stock after purchasing an additional 12,780 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.44% of Cavco Industries worth $15,368,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SkyView Investment Advisors LLC increased its stake in Cavco Industries by 1.8% in the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Cavco Industries in the 3rd quarter valued at $637,000. Coldstream Capital Management Inc. acquired a new stake in Cavco Industries during the 3rd quarter worth $213,000. Geode Capital Management LLC raised its stake in Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after acquiring an additional 12,822 shares in the last quarter. Finally, Barclays PLC lifted its position in Cavco Industries by 162.0% in the third quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after acquiring an additional 10,656 shares during the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the transaction, the chief accounting officer now directly owns 981 shares in the company, valued at $502,497.63. This represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,100 shares of company stock valued at $535,642. Company insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

Shares of Cavco Industries stock opened at $431.31 on Friday. The company has a market capitalization of $3.50 billion, a P/E ratio of 24.38 and a beta of 1.33. Cavco Industries, Inc. has a 1 year low of $304.10 and a 1 year high of $544.08. The company’s fifty day moving average is $473.24 and its two-hundred day moving average is $425.58.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter last year, the company posted $4.76 earnings per share. As a group, equities analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVCO. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a report on Tuesday, December 3rd. StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Craig Hallum boosted their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

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.