Louisiana State Employees Retirement System trimmed its position in PGT Innovations Inc (NYSE:PGTI) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,020 shares of the construction company’s stock after selling 1,680 shares during the quarter. Louisiana State Employees Retirement System’s holdings in PGT Innovations were worth $298,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in PGT Innovations by 18.8% during the second quarter. Bank of Montreal Can now owns 5,956 shares of the construction company’s stock worth $100,000 after purchasing an additional 944 shares during the last quarter. Northern Trust Corp increased its stake in shares of PGT Innovations by 0.7% in the 2nd quarter. Northern Trust Corp now owns 730,392 shares of the construction company’s stock valued at $12,213,000 after purchasing an additional 4,962 shares during the last quarter. US Bancorp DE raised its holdings in shares of PGT Innovations by 3.1% during the 2nd quarter. US Bancorp DE now owns 25,756 shares of the construction company’s stock worth $430,000 after buying an additional 772 shares in the last quarter. Morgan Stanley raised its holdings in shares of PGT Innovations by 1,194.9% during the 2nd quarter. Morgan Stanley now owns 546,674 shares of the construction company’s stock worth $9,140,000 after buying an additional 504,456 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of PGT Innovations by 56.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 62,277 shares of the construction company’s stock worth $1,041,000 after buying an additional 22,387 shares during the last quarter. 92.28% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on PGTI. ValuEngine lowered PGT Innovations from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Zacks Investment Research raised PGT Innovations from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.50.
In related news, Director Rodney Hershberger sold 11,938 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $14.44, for a total transaction of $172,384.72. Following the sale, the director now owns 1,313,928 shares in the company, valued at approximately $18,973,120.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 33,939 shares of company stock worth $512,263. 4.60% of the stock is currently owned by company insiders.
Shares of NYSE:PGTI opened at $16.00 on Tuesday. The company has a market cap of $929.22 million, a price-to-earnings ratio of 18.39, a PEG ratio of 1.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.56 and a quick ratio of 2.83. The firm has a 50 day simple moving average of $15.19 and a 200 day simple moving average of $15.70. PGT Innovations Inc has a one year low of $13.30 and a one year high of $18.48.
PGT Innovations (NYSE:PGTI) last posted its earnings results on Thursday, November 7th. The construction company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The company had revenue of $197.82 million for the quarter, compared to the consensus estimate of $196.78 million. PGT Innovations had a return on equity of 13.67% and a net margin of 6.69%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. As a group, analysts expect that PGT Innovations Inc will post 0.81 EPS for the current year.
PGT Innovations Profile
PGT Innovations, Inc manufactures and supplies impact-resistant residential windows and doors in the Southeastern United States, Western United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. It offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.
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