Cavco Industries, Inc. $CVCO Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 36.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,458 shares of the construction company’s stock after selling 4,797 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cavco Industries were worth $4,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its position in shares of Cavco Industries by 13.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock valued at $90,000 after purchasing an additional 18 shares during the period. Sheets Smith Wealth Management increased its position in Cavco Industries by 0.9% during the first quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock worth $1,090,000 after purchasing an additional 20 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Cavco Industries by 12.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after purchasing an additional 22 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Cavco Industries by 2.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,450 shares of the construction company’s stock valued at $857,000 after purchasing an additional 40 shares during the last quarter. Finally, Aristides Capital LLC boosted its holdings in Cavco Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 902 shares of the construction company’s stock valued at $533,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity

In other news, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the transaction, the director owned 6,169 shares of the company’s stock, valued at $3,632,060.44. This trade represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,541 shares of company stock valued at $2,121,932 over the last quarter. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. UBS Group started coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 target price on the stock. Finally, Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cavco Industries has an average rating of “Moderate Buy” and an average target price of $625.00.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $569.77 on Friday. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 23.77 and a beta of 1.28. Cavco Industries, Inc. has a 12 month low of $397.38 and a 12 month high of $713.01. The business’s 50 day simple moving average is $565.24 and its 200-day simple moving average is $553.70.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.12. The business had revenue of $550.13 million for the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. On average, equities analysts anticipate that Cavco Industries, Inc. will post 24.5 earnings per share for the current year.

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.