Pinebridge Investments L.P. lifted its stake in shares of PGT Innovations Inc (NYSE:PGTI) by 218.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,345 shares of the construction company’s stock after acquiring an additional 44,160 shares during the period. Pinebridge Investments L.P. owned 0.11% of PGT Innovations worth $1,076,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of PGTI. AlphaOne Investment Services LLC acquired a new stake in PGT Innovations in the 1st quarter worth about $46,000. Redhawk Wealth Advisors Inc. acquired a new stake in PGT Innovations in the 2nd quarter worth about $79,000. Bank of Montreal Can boosted its stake in PGT Innovations by 18.8% in the 2nd quarter. Bank of Montreal Can now owns 5,956 shares of the construction company’s stock worth $100,000 after buying an additional 944 shares during the last quarter. NumerixS Investment Technologies Inc boosted its stake in PGT Innovations by 48.7% in the 1st quarter. NumerixS Investment Technologies Inc now owns 10,426 shares of the construction company’s stock worth $146,000 after buying an additional 3,413 shares during the last quarter. Finally, Creative Planning acquired a new stake in PGT Innovations in the 2nd quarter worth about $173,000. 90.97% of the stock is currently owned by institutional investors and hedge funds.
PGTI has been the topic of a number of research analyst reports. Gabelli raised PGT Innovations from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Friday, August 2nd. ValuEngine upgraded PGT Innovations from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. G.Research restated a “buy” rating on shares of PGT Innovations in a report on Friday, August 2nd. Finally, Zacks Investment Research downgraded PGT Innovations from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $22.88.
PGT Innovations (NYSE:PGTI) last announced its earnings results on Thursday, August 1st. The construction company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $199.00 million for the quarter, compared to the consensus estimate of $206.34 million. PGT Innovations had a return on equity of 15.36% and a net margin of 6.48%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Sell-side analysts forecast that PGT Innovations Inc will post 0.93 EPS for the current year.
In related news, Director Rodney Hershberger sold 11,830 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $16.29, for a total transaction of $192,710.70. Following the sale, the director now directly owns 1,207,630 shares in the company, valued at approximately $19,672,292.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brent Boydston bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of $14.00 per share, for a total transaction of $28,000.00. Following the completion of the acquisition, the vice president now owns 25,176 shares in the company, valued at approximately $352,464. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 47,415 shares of company stock worth $729,675. Company insiders own 5.80% of the company’s stock.
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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