JPMorgan Chase & Co. Buys 12,780 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

JPMorgan Chase & Co. lifted its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 55.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,887 shares of the construction company's stock after acquiring an additional 12,780 shares during the period. JPMorgan Chase & Co. owned approximately 0.44% of Cavco Industries worth $15,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SkyView Investment Advisors LLC grew its position in Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company's stock worth $767,000 after purchasing an additional 31 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Cavco Industries in the third quarter valued at about $637,000. Coldstream Capital Management Inc. acquired a new stake in Cavco Industries during the third quarter worth about $213,000. Geode Capital Management LLC increased its stake in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock valued at $96,107,000 after acquiring an additional 12,822 shares during the period. Finally, Barclays PLC raised its holdings in Cavco Industries by 162.0% in the 3rd 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 in the last quarter. Institutional investors own 95.56% of the company's stock.

Insider Activity at Cavco Industries

In other news, CAO Paul Bigbee sold 100 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. This represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julia Sze sold 125 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares of the company's stock, valued at approximately $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 valued at $535,642 in the last ninety days. Insiders own 1.60% of the company's stock.

Cavco Industries Stock Performance

Shares of CVCO stock traded down $13.02 during trading hours on Friday, hitting $431.31. The company had a trading volume of 50,463 shares, compared to its average volume of 45,344. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 24.38 and a beta of 1.33. Cavco Industries, Inc. has a 12 month low of $304.10 and a 12 month high of $544.08. The firm's fifty day moving average is $473.24 and its 200 day moving average is $426.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The firm had revenue of $507.46 million for the quarter, compared to analysts' expectations of $480.10 million. During the same period in the prior year, the business posted $4.76 earnings per share. On average, sell-side analysts expect that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. 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. Craig Hallum lifted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, StockNews.com cut 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.