69,912 Shares in Cavco Industries, Inc. $CVCO Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 69,912 shares of the construction company’s stock, valued at approximately $42,954,000.

Other institutional investors also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in Cavco Industries in the 2nd quarter valued at about $1,414,000. Legal & General Group Plc acquired a new stake in shares of Cavco Industries in the second quarter valued at approximately $11,045,000. The Manufacturers Life Insurance Company purchased a new position in Cavco Industries during the second quarter worth approximately $2,305,000. Sanctuary Advisors LLC purchased a new position in Cavco Industries during the second quarter worth approximately $305,000. Finally, Neumeier Poma Investment Counsel LLC acquired a new position in Cavco Industries during the second quarter worth $42,826,587,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Price Performance

NASDAQ:CVCO opened at $570.27 on Friday. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01. The firm has a market capitalization of $4.39 billion, a PE ratio of 24.82 and a beta of 1.29. The business’s fifty day moving average price is $582.80 and its 200 day moving average price is $546.65.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The company had revenue of $609.96 million during the quarter, compared to analysts’ expectations of $590.54 million. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 22.75 EPS for the current 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 that occurred on Thursday, June 25th. The stock was 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 owned 9,147 shares in the company, valued at approximately $5,716,875. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 342 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the sale, the chief accounting officer owned 736 shares of the company’s stock, valued at approximately $435,712. This trade represents a 31.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,553 shares of company stock valued at $2,159,368 over the last quarter. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Zelman & Associates cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. UBS Group initiated coverage on shares of Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.