Russell Investments Group Ltd. increased its position in shares of PGT Innovations Inc (NYSE:PGTI) by 38.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,328 shares of the construction company’s stock after purchasing an additional 114,213 shares during the quarter. Russell Investments Group Ltd.’s holdings in PGT Innovations were worth $6,876,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC lifted its holdings in PGT Innovations by 233.3% in the second quarter. Rice Hall James & Associates LLC now owns 1,218,343 shares of the construction company’s stock valued at $20,371,000 after acquiring an additional 852,806 shares during the period. Lazard Asset Management LLC lifted its holdings in PGT Innovations by 44.5% in the first quarter. Lazard Asset Management LLC now owns 1,810,192 shares of the construction company’s stock valued at $25,071,000 after acquiring an additional 557,105 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in PGT Innovations in the second quarter valued at approximately $4,183,000. Kennedy Capital Management Inc. acquired a new position in PGT Innovations in the first quarter valued at approximately $2,424,000. Finally, Cambiar Investors LLC acquired a new position in PGT Innovations in the second quarter valued at approximately $2,732,000. 91.27% of the stock is owned by hedge funds and other institutional investors.
Shares of PGT Innovations stock traded up $0.40 on Thursday, reaching $17.28. The company’s stock had a trading volume of 13,766 shares, compared to its average volume of 482,762. The company has a market capitalization of $988.93 million, a P/E ratio of 14.49, a PEG ratio of 1.83 and a beta of 1.00. PGT Innovations Inc has a 52-week low of $13.30 and a 52-week high of $25.00. The stock has a 50-day moving average price of $14.95 and a 200-day moving average price of $15.18. The company has a quick ratio of 2.40, a current ratio of 2.99 and a debt-to-equity ratio of 0.95.
PGT Innovations (NYSE:PGTI) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $199.00 million during the quarter, compared to analysts’ expectations of $206.34 million. PGT Innovations had a return on equity of 15.36% and a net margin of 6.48%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Sell-side analysts forecast that PGT Innovations Inc will post 0.94 earnings per share for the current fiscal year.
In other news, VP Brent Boydston purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $14.00 per share, for a total transaction of $28,000.00. Following the completion of the transaction, the vice president now owns 25,176 shares of the company’s stock, valued at $352,464. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rodney Hershberger sold 23,505 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $15.84, for a total value of $372,319.20. Following the sale, the director now owns 1,181,135 shares of the company’s stock, valued at $18,709,178.40. The disclosure for this sale can be found here. Insiders have sold 59,305 shares of company stock valued at $903,726 over the last quarter. 4.60% of the stock is owned by company insiders.
A number of research analysts have issued reports on the company. ValuEngine raised 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 research report on Friday, August 2nd. Zacks Investment Research cut PGT Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Gabelli upgraded PGT Innovations from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. PGT Innovations has a consensus rating of “Buy” and a consensus price target of $22.88.
About PGT Innovations
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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