Allspring Global Investments Holdings LLC Cuts Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 6.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,808 shares of the construction company’s stock after selling 1,326 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cavco Industries were worth $7,212,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Group One Trading L.P. purchased a new stake in shares of Cavco Industries during the 3rd quarter valued at about $26,000. Headinvest LLC purchased a new stake in Cavco Industries during the third quarter valued at approximately $26,000. Federated Hermes Inc. bought a new stake in shares of Cavco Industries in the 3rd quarter valued at approximately $26,000. Advisory Services Network LLC purchased a new position in shares of Cavco Industries in the 1st quarter worth approximately $32,000. Finally, NewEdge Advisors LLC bought a new position in shares of Cavco Industries during the 1st quarter valued at approximately $52,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $351.45 on Thursday. The firm has a market capitalization of $2.93 billion, a PE ratio of 17.83 and a beta of 1.15. The stock’s fifty day moving average is $374.23 and its 200 day moving average is $325.10. Cavco Industries, Inc. has a fifty-two week low of $233.84 and a fifty-two week high of $400.99.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Friday, February 2nd. The construction company reported $4.27 earnings per share for the quarter, missing analysts’ consensus estimates of $4.36 by ($0.09). The firm had revenue of $446.77 million for the quarter, compared to the consensus estimate of $428.40 million. Cavco Industries had a net margin of 9.25% and a return on equity of 17.00%. During the same quarter last year, the firm earned $6.66 EPS. Equities analysts forecast that Cavco Industries, Inc. will post 19.46 EPS for the current year.

Insider Activity at Cavco Industries

In other news, insider Matthew A. Nino sold 2,357 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $360.00, for a total transaction of $848,520.00. Following the transaction, the insider now owns 1,248 shares of the company’s stock, valued at $449,280. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cavco Industries news, insider Matthew A. Nino sold 2,357 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $360.00, for a total transaction of $848,520.00. Following the transaction, the insider now owns 1,248 shares of the company’s stock, valued at approximately $449,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bigbee sold 262 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $367.13, for a total value of $96,188.06. Following the completion of the transaction, the chief accounting officer now directly owns 766 shares of the company’s stock, valued at $281,221.58. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by insiders.

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.