Jupiter Topco LLC Invests $42.95 Million in Cavco Industries, Inc. $CVCO

Key Points

• Jupiter Topco LLC acquired 69,912 Cavco Industries shares worth approximately $42.95 million, representing about 0.91% of the company. Institutional investors collectively own 95.56% of Cavco’s stock.
• Cavco reported quarterly EPS of $5.43, missing the $5.69 consensus estimate, while revenue of $609.96 million exceeded expectations. Analysts project full-year EPS of $22.75.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell; the stock carries an overall “Hold” consensus and a $700 average price target. Meanwhile, insiders sold 3,553 shares worth about $2.16 million during the last quarter.

Jupiter Topco LLC bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 69,912 shares of the construction company's stock, valued at approximately $42,954,000. Jupiter Topco LLC owned about 0.91% of Cavco Industries as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in Cavco Industries by 13.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company's stock worth $90,000 after purchasing an additional 18 shares during the last quarter. Sheets Smith Wealth Management increased its stake in shares of Cavco Industries by 0.9% in the first quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company's stock worth $1,090,000 after buying an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company's stock worth $86,000 after buying an additional 22 shares during the period. GAMMA Investing LLC raised its holdings in Cavco Industries by 8.6% during the 2nd quarter. GAMMA Investing LLC now owns 415 shares of the construction company's stock valued at $255,000 after buying an additional 33 shares during the last quarter. Finally, Aristides Capital LLC raised its holdings in Cavco Industries by 4.6% during the 4th quarter. Aristides Capital LLC now owns 902 shares of the construction company's stock valued at $533,000 after buying an additional 40 shares during the last quarter. Institutional investors own 95.56% of the company's stock.

Cavco Industries Price Performance

CVCO stock opened at $570.27 on Friday. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 24.82 and a beta of 1.29. Cavco Industries, Inc. has a 1-year low of $443.33 and a 1-year high of $713.01. The business has a 50 day simple moving average of $582.80 and a two-hundred day simple moving average of $546.65.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.69 by ($0.26). The business had revenue of $609.96 million for the quarter, compared to analysts' expectations of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 22.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the sale, the executive vice president directly owned 9,147 shares of the company's stock, valued at $5,716,875. The trade was a 13.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the completion of the transaction, the director directly owned 6,169 shares in the company, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,553 shares of company stock worth $2,159,368 over the last quarter. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

CVCO has been the subject of a number of research reports. Zacks Research downgraded shares of Cavco Industries from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. UBS Group assumed coverage on Cavco Industries in a research report on Friday, June 5th. They set a "buy" rating and a $700.00 price objective on the stock. Zelman & Associates downgraded Cavco Industries from an "outperform" rating to a "neutral" rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Cavco Industries in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cavco Industries presently has an average rating of "Hold" and a consensus target price of $700.00.

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.

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