Cavco Industries, Inc. (NASDAQ:CVCO) Shares Acquired by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. raised its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 1.7% during the first quarter, HoldingsChannel.com reports. The firm owned 12,944 shares of the construction company’s stock after buying an additional 211 shares during the period. Cavco Industries accounts for 2.4% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 15th biggest position. Westbourne Investment Advisors Inc.’s holdings in Cavco Industries were worth $6,726,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Huntleigh Advisors Inc. increased its position in shares of Cavco Industries by 16.2% during the first quarter. Huntleigh Advisors Inc. now owns 1,467 shares of the construction company’s stock worth $762,000 after purchasing an additional 204 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Cavco Industries by 4.1% during the first quarter. OneDigital Investment Advisors LLC now owns 2,229 shares of the construction company’s stock worth $1,158,000 after purchasing an additional 87 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Cavco Industries by 1.5% during the first quarter. Principal Financial Group Inc. now owns 42,761 shares of the construction company’s stock worth $22,220,000 after purchasing an additional 638 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Cavco Industries during the first quarter worth $208,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Cavco Industries by 62.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company’s stock worth $6,402,000 after purchasing an additional 4,779 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Price Performance

NASDAQ CVCO opened at $446.77 on Wednesday. The stock’s fifty day moving average price is $459.68 and its 200 day moving average price is $481.02. Cavco Industries, Inc. has a 1 year low of $341.14 and a 1 year high of $549.99. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 21.52 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.17. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. The firm had revenue of $508.36 million for the quarter, compared to the consensus estimate of $504.15 million. Research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $550.00 target price on shares of Cavco Industries in a research report on Tuesday, May 27th. Wall Street Zen downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday.

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.