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

JPMorgan Chase & Co. boosted its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 21.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,590 shares of the construction company's stock after buying an additional 7,703 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.54% of Cavco Industries worth $19,451,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVCO. Harvest Fund Management Co. Ltd purchased a new position in shares of Cavco Industries in the fourth quarter valued at approximately $67,000. Smartleaf Asset Management LLC boosted its stake in Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after purchasing an additional 128 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after buying an additional 55 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after buying an additional 42 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after buying an additional 86 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

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Cavco Industries Trading Down 0.3 %

CVCO stock traded down $1.59 during trading on Tuesday, hitting $473.88. 29,590 shares of the company's stock were exchanged, compared to its average volume of 63,421. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The business has a 50-day moving average price of $513.29 and a two-hundred day moving average price of $480.06. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 23.32 and a beta of 1.19.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating analysts' consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVCO has been the topic of several analyst reports. Wedbush reiterated a "neutral" rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total value of $1,014,360.00. Following the sale, the director now owns 2,836 shares of the company's stock, valued at $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew A. Nino sold 894 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total transaction of $472,952.82. Following the transaction, the insider now directly owns 771 shares of the company's stock, valued at approximately $407,882.13. This trade represents a 53.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,644 shares of company stock valued at $4,494,608 in the last ninety days. Corporate insiders own 1.60% of the company's stock.

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.