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

Allspring Global Investments Holdings LLC lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,166 shares of the construction company’s stock after selling 3,056 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cavco Industries were worth $5,210,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Blue Trust Inc. raised its position in shares of Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. GAMMA Investing LLC increased its holdings in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after acquiring an additional 64 shares during the last quarter. nVerses Capital LLC purchased a new stake in Cavco Industries in the 2nd quarter worth $138,000. SG Americas Securities LLC bought a new position in shares of Cavco Industries during the 1st quarter valued at about $197,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Cavco Industries during the first quarter valued at about $209,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity

In other news, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the transaction, the director now owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at $2,679,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,663 shares of company stock valued at $1,882,930 in the last ninety days. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CVCO. Wedbush boosted their target price on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum lifted their price objective on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

Cavco Industries Stock Down 0.8 %

CVCO stock opened at $413.03 on Monday. Cavco Industries, Inc. has a 52 week low of $233.84 and a 52 week high of $452.42. The firm has a market capitalization of $3.42 billion, a P/E ratio of 22.51 and a beta of 1.24. The company has a fifty day simple moving average of $418.52 and a two-hundred day simple moving average of $385.28.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same period in the previous year, the business posted $5.29 EPS. As a group, analysts anticipate that Cavco Industries, Inc. will post 17.35 EPS for the current year.

About Cavco Industries

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.