Phocas Financial Corp. reduced its holdings in shares of PGT Innovations, Inc. (NYSE:PGTI – Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 302,967 shares of the construction company’s stock after selling 1,451 shares during the quarter. PGT Innovations accounts for about 1.2% of Phocas Financial Corp.’s holdings, making the stock its 13th biggest holding. Phocas Financial Corp. owned approximately 0.52% of PGT Innovations worth $8,831,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. raised its position in PGT Innovations by 11.2% in the first quarter. Envestnet Asset Management Inc. now owns 10,481 shares of the construction company’s stock valued at $188,000 after purchasing an additional 1,056 shares during the last quarter. Raymond James & Associates bought a new position in PGT Innovations in the first quarter valued at about $394,000. Bank of New York Mellon Corp raised its position in PGT Innovations by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 617,915 shares of the construction company’s stock valued at $11,110,000 after purchasing an additional 3,850 shares during the last quarter. Citigroup Inc. raised its position in PGT Innovations by 6.8% in the first quarter. Citigroup Inc. now owns 61,937 shares of the construction company’s stock valued at $1,114,000 after purchasing an additional 3,964 shares during the last quarter. Finally, Natixis Advisors L.P. bought a new position in PGT Innovations in the first quarter valued at about $205,000. 82.66% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Truist Financial increased their target price on PGT Innovations from $29.00 to $32.00 in a research report on Monday, June 5th. Jefferies Financial Group increased their price target on PGT Innovations from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Finally, StockNews.com cut PGT Innovations from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th.
PGT Innovations Trading Up 0.7 %
Shares of PGTI stock traded up $0.18 on Tuesday, hitting $26.78. The company had a trading volume of 51,630 shares, compared to its average volume of 467,701. The firm has a market cap of $1.56 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.95 and a beta of 1.45. The stock’s 50-day moving average is $27.61 and its two-hundred day moving average is $26.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.91 and a current ratio of 2.72. PGT Innovations, Inc. has a twelve month low of $17.43 and a twelve month high of $29.64.
PGT Innovations (NYSE:PGTI – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. PGT Innovations had a return on equity of 18.47% and a net margin of 7.15%. The company had revenue of $384.90 million during the quarter, compared to analysts’ expectations of $390.95 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research analysts anticipate that PGT Innovations, Inc. will post 2.13 earnings per share for the current fiscal year.
Insider Buying and Selling
In other PGT Innovations news, Director Christopher J. Stephens bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average price of $26.33 per share, with a total value of $78,990.00. Following the completion of the purchase, the director now directly owns 6,434 shares of the company’s stock, valued at approximately $169,407.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PGT Innovations news, Director Rodney Hershberger sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $28.51, for a total value of $71,275.00. Following the transaction, the director now owns 1,344,155 shares in the company, valued at $38,321,859.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher J. Stephens purchased 3,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $26.33 per share, for a total transaction of $78,990.00. Following the acquisition, the director now owns 6,434 shares of the company’s stock, valued at approximately $169,407.22. The disclosure for this purchase can be found here. Insiders sold 7,500 shares of company stock valued at $215,900 over the last 90 days. Company insiders own 4.90% of the company’s stock.
PGT Innovations Company Profile
PGT Innovations, Inc, together with its subsidiaries manufactures and supplies 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.
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