Allspring Global Investments Holdings LLC Increases Position 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% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,403 shares of the construction company's stock after purchasing an additional 4,779 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of Cavco Industries worth $6,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CVCO. State of Wyoming boosted its holdings in shares of Cavco Industries by 0.8% in the fourth quarter. State of Wyoming now owns 3,066 shares of the construction company's stock valued at $1,368,000 after purchasing an additional 24 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Cavco Industries by 3.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 866 shares of the construction company's stock valued at $386,000 after purchasing an additional 30 shares during the period. Ancora Advisors LLC boosted its holdings in shares of Cavco Industries by 0.4% in the fourth quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company's stock valued at $4,494,000 after purchasing an additional 40 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Cavco Industries by 3.6% in the fourth quarter. Captrust Financial Advisors now owns 1,329 shares of the construction company's stock valued at $593,000 after purchasing an additional 46 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Cavco Industries by 9.4% in the fourth quarter. Xponance Inc. now owns 596 shares of the construction company's stock valued at $266,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush restated a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a report on Tuesday, May 27th. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday.

Cavco Industries Trading Up 0.0%

CVCO traded up $0.15 during midday trading on Wednesday, hitting $446.92. 154,743 shares of the company were exchanged, compared to its average volume of 82,180. The company's 50 day simple moving average is $458.74 and its 200 day simple moving average is $480.78. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 21.53 and a beta of 1.15. Cavco Industries, Inc. has a 1-year low of $343.80 and a 1-year high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $508.36 million during the quarter, compared to analysts' expectations of $504.15 million. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. On average, equities analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current 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.