Cavco Industries, Inc. (NASDAQ:CVCO) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 62.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,403 shares of the construction company’s stock after buying an additional 4,779 shares during the period. Allspring Global Investments Holdings LLC owned about 0.15% of Cavco Industries worth $6,402,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVCO. Harvest Fund Management Co. Ltd purchased a new position in shares of Cavco Industries in the 4th quarter valued at about $67,000. Smartleaf Asset Management LLC grew its position in Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after buying an additional 128 shares during the period. ClearAlpha Technologies LP acquired a new position in Cavco Industries during the fourth quarter worth about $204,000. New Age Alpha Advisors LLC purchased a new position in Cavco Industries in the fourth quarter valued at about $215,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Cavco Industries by 58.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company’s stock valued at $219,000 after acquiring an additional 181 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Wedbush reiterated a “neutral” rating and set a $550.00 target price on shares of Cavco Industries in a research report on Tuesday, May 27th.

Cavco Industries Trading Down 0.5%

Shares of CVCO opened at $457.28 on Friday. Cavco Industries, Inc. has a 12-month low of $339.55 and a 12-month high of $549.99. The stock has a market cap of $3.70 billion, a P/E ratio of 22.03 and a beta of 1.15. The company has a 50-day moving average of $461.54 and a two-hundred day moving average of $481.04.

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

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.