Allspring Global Investments Holdings LLC Sells 3,062 Shares of Cavco Industries, Inc. $CVCO

Allspring Global Investments Holdings LLC decreased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,255 shares of the construction company’s stock after selling 3,062 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.17% of Cavco Industries worth $7,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Cavco Industries by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares in the last quarter. Sheets Smith Wealth Management increased its position in Cavco Industries by 1.4% during the 3rd quarter. Sheets Smith Wealth Management now owns 2,245 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 31 shares during the period. Nisa Investment Advisors LLC increased its position in Cavco Industries by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the construction company’s stock valued at $506,000 after purchasing an additional 32 shares during the period. Guidance Capital Inc. increased its position in Cavco Industries by 3.3% during the 3rd quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock valued at $663,000 after purchasing an additional 36 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Cavco Industries by 27.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock valued at $109,000 after purchasing an additional 40 shares during the period. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CVCO shares. Weiss Ratings downgraded shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $550.00.

Insiders Place Their Bets

In related news, Director David A. Greenblatt bought 87 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were bought at an average price of $500.00 per share, with a total value of $43,500.00. Following the transaction, the director owned 16,076 shares in the company, valued at approximately $8,038,000. This trade represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William C. Boor bought 1,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were bought at an average cost of $495.00 per share, for a total transaction of $495,000.00. Following the transaction, the chief executive officer owned 48,022 shares in the company, valued at $23,770,890. The trade was a 2.13% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 1,800 shares of company stock valued at $866,592. Insiders own 1.60% of the company’s stock.

Cavco Industries Trading Up 0.3%

NASDAQ:CVCO opened at $481.27 on Tuesday. The company has a market cap of $3.73 billion, a PE ratio of 20.91 and a beta of 1.33. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $713.01. The company’s 50 day moving average is $532.16 and its two-hundred day moving average is $566.59.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing the consensus estimate of $6.00 by ($0.42). The company had revenue of $580.99 million for the quarter, compared to analysts’ expectations of $593.37 million. Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%. As a group, analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

About Cavco Industries

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.