Allspring Global Investments Holdings LLC Has $5.27 Million Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 9.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,222 shares of the construction company's stock after selling 1,563 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of Cavco Industries worth $5,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CVCO. Blue Trust Inc. raised its holdings in Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Mather Group LLC. bought a new stake in Cavco Industries during the first quarter worth approximately $60,000. Simplex Trading LLC bought a new stake in Cavco Industries during the fourth quarter worth approximately $140,000. SG Americas Securities LLC bought a new stake in Cavco Industries during the first quarter worth approximately $197,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Cavco Industries in the first quarter worth approximately $209,000. Institutional investors own 95.56% of the company's stock.

Cavco Industries Price Performance

NASDAQ CVCO traded up $9.21 on Friday, hitting $413.32. 58,168 shares of the stock were exchanged, compared to its average volume of 63,131. Cavco Industries, Inc. has a 52-week low of $233.84 and a 52-week high of $426.41. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 22.52 and a beta of 1.23. The company's 50-day moving average price is $378.95 and its two-hundred day moving average price is $372.24.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The firm had revenue of $477.60 million for the quarter, compared to analysts' expectations of $487.80 million. During the same quarter in the previous year, the firm posted $5.29 earnings per share. Equities analysts predict that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Steven K. Like sold 575 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the transaction, the senior vice president now directly owns 1,255 shares in the company, valued at approximately $460,108.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVCO. Wedbush restated an "outperform" rating and issued a $425.00 price target on shares of Cavco Industries in a research report on Friday, August 2nd. Craig Hallum lifted their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a "buy" rating in a research report on Monday, August 5th.

Cavco Industries 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.