Cavco Industries, Inc. (NASDAQ:CVCO) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 55.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,887 shares of the construction company’s stock after acquiring an additional 12,780 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cavco Industries were worth $15,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Cavco Industries by 390.5% in the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new position in Cavco Industries during the 3rd quarter valued at about $64,000. Blue Trust Inc. raised its position in Cavco Industries by 90.0% during the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after acquiring an additional 90 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Cavco Industries in the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Performance

CVCO stock opened at $431.31 on Friday. The company has a 50 day moving average price of $473.24 and a two-hundred day moving average price of $425.58. The stock 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 one year low of $304.10 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $4.76 earnings per share. Research analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $485.56, for a total transaction 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. The trade was a 26.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julia Sze sold 125 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the transaction, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,100 shares of company stock worth $535,642 in the last 90 days. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Cavco Industries Company Profile

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.