Virginia Retirement Systems ET AL Trims Stock Holdings in PGT Innovations Inc (NYSE:PGTI)

Virginia Retirement Systems ET AL decreased its holdings in PGT Innovations Inc (NYSE:PGTI) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,000 shares of the construction company’s stock after selling 4,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in PGT Innovations were worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PGTI. Cambiar Investors LLC purchased a new stake in shares of PGT Innovations in the 2nd quarter worth about $2,732,000. Arizona State Retirement System grew its position in shares of PGT Innovations by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 90,509 shares of the construction company’s stock worth $1,513,000 after buying an additional 908 shares during the period. Daiwa Securities Group Inc. grew its position in shares of PGT Innovations by 48.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 368,900 shares of the construction company’s stock worth $6,168,000 after buying an additional 120,500 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of PGT Innovations in the 2nd quarter worth about $273,000. Finally, GYL Financial Synergies LLC purchased a new stake in shares of PGT Innovations in the 1st quarter worth about $421,000. Hedge funds and other institutional investors own 88.33% of the company’s stock.

In related news, Director Rodney Hershberger sold 11,830 shares of the stock in a transaction dated Monday, July 15th. The shares were 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 of the company’s stock, valued at approximately $19,672,292.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 59,025 shares of company stock worth $923,460 over the last three months. 5.80% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on PGTI. ValuEngine raised shares of PGT Innovations from a “sell” rating to a “hold” rating in a research report on Thursday. Gabelli raised shares of PGT Innovations from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of PGT Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. KeyCorp upped their target price on shares of PGT Innovations from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, G.Research reaffirmed a “buy” rating on shares of PGT Innovations 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. The company presently has a consensus rating of “Buy” and an average price target of $22.88.

PGTI stock traded up $0.08 during trading on Friday, hitting $14.17. 373,127 shares of the stock traded hands, compared to its average volume of 436,587. PGT Innovations Inc has a 1 year low of $13.30 and a 1 year high of $26.40. The stock has a 50 day simple moving average of $16.01. The stock has a market capitalization of $831.33 million, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.04. The company has a current ratio of 2.99, a quick ratio of 2.40 and a debt-to-equity ratio of 0.95.

PGT Innovations (NYSE:PGTI) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. PGT Innovations had a net margin of 6.48% and a return on equity of 15.36%. The company had revenue of $199.00 million for the quarter, compared to the consensus estimate of $206.34 million. During the same period in the prior year, the firm posted $0.41 EPS. PGT Innovations’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts anticipate that PGT Innovations Inc will post 0.95 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for PGT Innovations (NYSE:PGTI)

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