Louisiana State Employees Retirement System Buys New Shares in PGT Innovations, Inc. (NYSE:PGTI)

Louisiana State Employees Retirement System bought a new stake in PGT Innovations, Inc. (NYSE:PGTI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 28,500 shares of the construction company’s stock, valued at approximately $1,160,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in PGT Innovations by 6.8% in the third quarter. Vanguard Group Inc. now owns 4,261,432 shares of the construction company’s stock valued at $118,255,000 after purchasing an additional 269,699 shares during the last quarter. Boston Partners purchased a new stake in PGT Innovations during the third quarter valued at about $12,880,000. Wellington Management Group LLP grew its position in PGT Innovations by 8.2% during the third quarter. Wellington Management Group LLP now owns 3,573,418 shares of the construction company’s stock valued at $99,162,000 after acquiring an additional 269,891 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in PGT Innovations during the third quarter valued at about $998,000. Finally, First Eagle Investment Management LLC grew its position in PGT Innovations by 25.4% during the third quarter. First Eagle Investment Management LLC now owns 105,216 shares of the construction company’s stock valued at $2,920,000 after acquiring an additional 21,326 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PGTI has been the subject of a number of research reports. Truist Financial lowered their price target on PGT Innovations from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, January 18th. StockNews.com started coverage on PGT Innovations in a research report on Thursday, April 18th. They issued a “buy” rating for the company.

PGT Innovations Stock Performance

Shares of PGTI opened at $41.99 on Wednesday. The company has a market capitalization of $2.40 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.05 and a beta of 1.44. PGT Innovations, Inc. has a one year low of $22.66 and a one year high of $42.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 2.45. The stock has a 50-day moving average price of $41.84 and a 200 day moving average price of $37.93.

PGT Innovations (NYSE:PGTI) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.11). The business had revenue of $342.50 million during the quarter, compared to analysts’ expectations of $339.15 million. PGT Innovations had a net margin of 7.25% and a return on equity of 18.46%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. Sell-side analysts forecast that PGT Innovations, Inc. will post 2.48 EPS for the current fiscal year.

PGT Innovations Profile

PGT Innovations, Inc, together with its subsidiaries, engages in the manufacture and supply of impact-resistant aluminum frame windows and doors in the United States and internationally. The company provides heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact resistant vinyl windows with insulating glass and multi-chambered frames for various climate zones.