Meeder Asset Management Inc. Makes New Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

Meeder Asset Management Inc. purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,146 shares of the construction company’s stock, valued at approximately $1,115,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVCO. Commonwealth Equity Services LLC acquired a new stake in shares of Cavco Industries in the fourth quarter worth about $308,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cavco Industries in the fourth quarter worth about $669,000. LPL Financial LLC lifted its position in shares of Cavco Industries by 174.5% in the fourth quarter. LPL Financial LLC now owns 2,114 shares of the construction company’s stock worth $943,000 after buying an additional 1,344 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Cavco Industries by 9.9% in the fourth quarter. Prudential Financial Inc. now owns 10,887 shares of the construction company’s stock worth $5,065,000 after buying an additional 984 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cavco Industries by 21.5% in the fourth quarter. JPMorgan Chase & Co. now owns 43,590 shares of the construction company’s stock worth $19,451,000 after buying an additional 7,703 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research analyst reports. Wall Street Zen cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Wedbush reissued a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Tuesday, May 27th.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $411.96 on Wednesday. Cavco Industries, Inc. has a twelve month low of $351.28 and a twelve month high of $549.99. The stock has a market capitalization of $3.33 billion, a PE ratio of 19.84 and a beta of 1.15. The stock has a 50-day simple moving average of $432.82 and a 200 day simple moving average of $479.29.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.17. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. The business had revenue of $508.36 million during the quarter, compared to analysts’ expectations of $504.15 million. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

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.