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

Allspring Global Investments Holdings LLC grew its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 62.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 12,403 shares of the construction company's stock after acquiring 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 quarter.

Several other institutional investors have also recently made changes to their positions in CVCO. FMR LLC grew its stake in Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after purchasing an additional 160,899 shares during the period. GAMMA Investing LLC lifted its position in Cavco Industries by 71,961.9% during the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after buying an additional 228,839 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cavco Industries by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock valued at $101,324,000 after buying an additional 2,640 shares in the last quarter. Invesco Ltd. grew its position in shares of Cavco Industries by 18.7% in the 4th quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock worth $81,418,000 after buying an additional 28,730 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cavco Industries by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company's stock worth $49,521,000 after acquiring an additional 1,524 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Cavco Industries Stock Down 2.2%

Shares of NASDAQ CVCO traded down $10.27 during trading on Monday, reaching $447.15. The company had a trading volume of 216,649 shares, compared to its average volume of 81,225. Cavco Industries, Inc. has a 12-month low of $339.55 and a 12-month high of $549.99. The business's 50-day moving average is $461.54 and its 200 day moving average is $481.31. The stock has a market cap of $3.62 billion, a PE ratio of 21.54 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.23 by $0.17. The company had revenue of $508.36 million for the quarter, compared to analysts' expectations of $504.15 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. On average, analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wedbush reissued a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday.

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.