PGT Innovations Inc (PGTI) Shares Bought by Arizona State Retirement System
Arizona State Retirement System raised its holdings in shares of PGT Innovations Inc (NYSE:PGTI) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,592 shares of the construction company’s stock after purchasing an additional 10,838 shares during the quarter. Arizona State Retirement System owned 0.14% of PGT Innovations worth $1,806,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PGTI. BlackRock Inc. lifted its position in shares of PGT Innovations by 21.5% during the second quarter. BlackRock Inc. now owns 8,619,651 shares of the construction company’s stock worth $179,719,000 after purchasing an additional 1,528,193 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of PGT Innovations during the third quarter worth $5,208,000. Bank of America Corp DE lifted its position in shares of PGT Innovations by 163.5% during the second quarter. Bank of America Corp DE now owns 386,182 shares of the construction company’s stock worth $8,052,000 after purchasing an additional 239,621 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of PGT Innovations by 6.4% during the second quarter. Renaissance Technologies LLC now owns 3,877,729 shares of the construction company’s stock worth $80,851,000 after purchasing an additional 232,300 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of PGT Innovations during the second quarter worth $2,095,000. Institutional investors and hedge funds own 79.43% of the company’s stock.
In related news, Director Richard D. Feintuch sold 5,010 shares of PGT Innovations stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $21.05, for a total value of $105,460.50. Following the completion of the sale, the director now directly owns 101,810 shares in the company, valued at $2,143,100.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.80% of the company’s stock.
PGT Innovations (NYSE:PGTI) last released its quarterly earnings data on Thursday, November 1st. The construction company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.12. The firm had revenue of $199.08 million during the quarter, compared to the consensus estimate of $165.62 million. PGT Innovations had a return on equity of 25.71% and a net margin of 9.92%. The firm’s quarterly revenue was up 56.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, sell-side analysts anticipate that PGT Innovations Inc will post 1.17 EPS for the current fiscal year.
Several analysts have recently weighed in on PGTI shares. ValuEngine upgraded PGT Innovations from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Deutsche Bank began coverage on PGT Innovations in a report on Friday, October 19th. They issued a “buy” rating and a $26.00 price objective for the company. Jefferies Financial Group began coverage on PGT Innovations in a report on Thursday, October 4th. They issued a “buy” rating and a $27.00 price objective for the company. Wells Fargo & Co began coverage on PGT Innovations in a report on Thursday, October 4th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, B. Riley lifted their price objective on PGT Innovations from $20.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.89.
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About PGT Innovations
PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company 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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