JPMorgan Chase & Co. Boosts Stake in PGT Innovations Inc (PGTI)
JPMorgan Chase & Co. increased its position in shares of PGT Innovations Inc (NYSE:PGTI) by 85.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,506 shares of the construction company’s stock after purchasing an additional 32,386 shares during the period. JPMorgan Chase & Co.’s holdings in PGT Innovations were worth $1,047,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new position in shares of PGT Innovations during the 2nd quarter worth about $137,000. Empirical Finance LLC purchased a new position in shares of PGT Innovations during the 3rd quarter worth about $160,000. Citadel Advisors LLC purchased a new position in shares of PGT Innovations during the 2nd quarter worth about $147,000. State Board of Administration of Florida Retirement System purchased a new position in shares of PGT Innovations during the 3rd quarter worth about $177,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of PGT Innovations by 55.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,568 shares of the construction company’s stock worth $186,000 after purchasing an additional 5,224 shares during the period. 92.39% of the stock is owned by hedge funds and other institutional investors.
In other PGT Innovations news, Director William J. Morgan sold 41,395 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $15.71, for a total value of $650,315.45. Following the completion of the sale, the director now directly owns 75,508 shares of the company’s stock, valued at approximately $1,186,230.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard D. Feintuch sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $16.05, for a total transaction of $802,500.00. Following the completion of the sale, the director now directly owns 75,508 shares of the company’s stock, valued at $1,211,903.40. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.
PGT Innovations (NYSE:PGTI) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $126.90 million during the quarter, compared to analysts’ expectations of $129.82 million. PGT Innovations had a net margin of 4.87% and a return on equity of 19.02%. PGT Innovations’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. equities research analysts anticipate that PGT Innovations Inc will post 0.56 earnings per share for the current year.
A number of equities analysts recently commented on PGTI shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $17.00 price target on shares of PGT Innovations in a research note on Wednesday, November 15th. Dougherty & Co raised shares of PGT Innovations from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. BidaskClub cut shares of PGT Innovations from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. B. Riley boosted their price objective on shares of PGT Innovations from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, KeyCorp reissued a “hold” rating on shares of PGT Innovations in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. PGT Innovations currently has a consensus rating of “Buy” and a consensus target price of $16.67.
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PGT Innovations Company Profile
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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