Cavco Industries, Inc. $CVCO Holdings Lifted by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. boosted its stake in Cavco by 74.6% during the third quarter to 32,057 shares (about 0.41% ownership), valued at roughly $18.6 million.
• Company insiders increased holdings recently—CEO William C. Boor bought 1,000 shares at $495 and Director Steven W. Moster bought 300 shares at $456—total insider purchases were 1,800 shares valued at $866,592, and insiders now own 1.60% of the stock.
• Cavco missed the latest quarterly estimates (EPS $5.58 vs. $6.00 expected; revenue $580.99M vs. $593.37M), trades with a $3.77 billion market cap and a P/E of 21.09, and carries an average analyst rating of "Hold" with a $550 price target.

JPMorgan Chase & Co. boosted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 74.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,057 shares of the construction company's stock after acquiring an additional 13,694 shares during the quarter. JPMorgan Chase & Co. owned about 0.41% of Cavco Industries worth $18,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVCO. Salomon & Ludwin LLC bought a new position in shares of Cavco Industries during the 3rd quarter valued at about $31,000. Osaic Holdings Inc. raised its holdings in shares of Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company's stock worth $57,000 after purchasing an additional 65 shares in the last quarter. Danske Bank A S bought a new stake in shares of Cavco Industries in the 3rd quarter worth approximately $58,000. Mather Group LLC. acquired a new stake in Cavco Industries during the third quarter valued at approximately $63,000. Finally, CIBC Private Wealth Group LLC lifted its stake in Cavco Industries by 72.5% during the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company's stock valued at $69,000 after purchasing an additional 50 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Price Performance

NASDAQ CVCO opened at $485.50 on Thursday. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 21.09 and a beta of 1.28. The company has a 50 day simple moving average of $565.41 and a 200-day simple moving average of $570.54. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 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 analysts' expectations of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. On average, analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In related news, Director Steven W. Moster bought 300 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was bought at an average price of $456.23 per share, with a total value of $136,869.00. Following the purchase, the director directly owned 2,976 shares of the company's stock, valued at approximately $1,357,740.48. This represents a 11.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William C. Boor purchased 1,000 shares of the company's stock in a transaction dated Wednesday, February 4th. The stock was bought at an average cost of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the purchase, the chief executive officer directly owned 48,022 shares of the company's stock, valued at $23,770,890. The trade was a 2.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 1,800 shares of company stock valued at $866,592 in the last quarter. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVCO shares. Zelman & Associates upgraded Cavco Industries to an "outperform" rating in a research report on Thursday, February 5th. Weiss Ratings downgraded Cavco Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, February 26th. Zacks Research lowered shares of Cavco Industries from a "hold" rating to a "strong sell" rating in a research note on Monday, February 9th. Finally, CJS Securities upgraded shares of Cavco Industries to a "strong-buy" rating in a report on Thursday, December 11th. One investment 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 stock. Based on data from MarketBeat, Cavco Industries currently has an average rating of "Hold" and an average price target of $550.00.

Cavco Industries 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.

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