PGT Innovations Inc (NYSE:PGTI) Stake Increased by Two Sigma Investments LP

Two Sigma Investments LP boosted its stake in shares of PGT Innovations Inc (NYSE:PGTI) by 513.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 499,669 shares of the construction company’s stock after purchasing an additional 418,273 shares during the period. Two Sigma Investments LP owned 0.86% of PGT Innovations worth $7,920,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in PGT Innovations by 481.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 100,006 shares of the construction company’s stock valued at $2,159,000 after acquiring an additional 82,821 shares during the last quarter. JPMorgan Chase & Co. grew its position in PGT Innovations by 375.6% in the third quarter. JPMorgan Chase & Co. now owns 512,578 shares of the construction company’s stock valued at $11,072,000 after acquiring an additional 404,803 shares in the last quarter. Prudential Financial Inc. grew its position in shares of PGT Innovations by 92.2% during the third quarter. Prudential Financial Inc. now owns 432,077 shares of the construction company’s stock worth $9,333,000 after buying an additional 207,284 shares in the last quarter. Rhumbline Advisers lifted its stake in PGT Innovations by 2.3% during the third quarter. Rhumbline Advisers now owns 120,496 shares of the construction company’s stock worth $2,603,000 after purchasing an additional 2,696 shares during the last quarter. Finally, Swiss National Bank lifted its stake in PGT Innovations by 16.2% during the third quarter. Swiss National Bank now owns 100,400 shares of the construction company’s stock worth $2,169,000 after purchasing an additional 14,000 shares during the last quarter. 92.58% of the stock is owned by institutional investors.

In related news, Director Richard D. Feintuch bought 4,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of $14.54 per share, with a total value of $58,160.00. Following the completion of the purchase, the director now owns 98,300 shares of the company’s stock, valued at approximately $1,429,282. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey T. Jackson bought 3,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of $14.35 per share, for a total transaction of $43,050.00. The disclosure for this purchase can be found here. Corporate insiders own 5.80% of the company’s stock.

A number of research firms have issued reports on PGTI. Zacks Investment Research cut PGT Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. ValuEngine upgraded PGT Innovations from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. assumed coverage on shares of PGT Innovations in a research note on Tuesday, December 18th. They set a “neutral” rating and a $19.00 price objective on the stock. Wells Fargo & Co cut shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Finally, Dougherty & Co reaffirmed a “buy” rating and set a $22.00 target price (down from $27.00) on shares of PGT Innovations in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. PGT Innovations has an average rating of “Hold” and a consensus target price of $23.75.

Shares of PGTI traded up $0.05 during trading hours on Monday, hitting $14.47. 430,400 shares of the stock traded hands, compared to its average volume of 559,253. PGT Innovations Inc has a 1-year low of $13.35 and a 1-year high of $26.40. The company has a quick ratio of 2.20, a current ratio of 2.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $837.51 million, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.01.

PGT Innovations (NYSE:PGTI) last released its earnings results on Wednesday, February 27th. The construction company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. PGT Innovations had a return on equity of 22.09% and a net margin of 7.72%. The firm had revenue of $189.89 million for the quarter, compared to analyst estimates of $173.39 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 41.6% on a year-over-year basis. Analysts anticipate that PGT Innovations Inc will post 1 EPS for the current year.

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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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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

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