PGT Innovations Inc (PGTI) Holdings Trimmed by Jennison Associates LLC
Jennison Associates LLC lessened its position in shares of PGT Innovations Inc (NYSE:PGTI) by 47.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,273,571 shares of the construction company’s stock after selling 1,168,948 shares during the quarter. Jennison Associates LLC owned approximately 2.51% of PGT Innovations worth $26,554,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Citigroup Inc. increased its position in PGT Innovations by 27.2% during the 1st quarter. Citigroup Inc. now owns 14,236 shares of the construction company’s stock valued at $265,000 after purchasing an additional 3,042 shares during the period. Swiss National Bank increased its position in PGT Innovations by 3.7% during the 1st quarter. Swiss National Bank now owns 86,400 shares of the construction company’s stock valued at $1,611,000 after purchasing an additional 3,100 shares during the period. US Bancorp DE increased its position in PGT Innovations by 7.2% during the 1st quarter. US Bancorp DE now owns 56,135 shares of the construction company’s stock valued at $1,047,000 after purchasing an additional 3,776 shares during the period. Northern Trust Corp increased its position in PGT Innovations by 0.7% during the 1st quarter. Northern Trust Corp now owns 621,856 shares of the construction company’s stock valued at $11,598,000 after purchasing an additional 4,539 shares during the period. Finally, Teachers Advisors LLC increased its position in PGT Innovations by 6.4% during the 4th quarter. Teachers Advisors LLC now owns 94,667 shares of the construction company’s stock valued at $1,595,000 after purchasing an additional 5,713 shares during the period. 89.73% of the stock is owned by institutional investors and hedge funds.
Shares of PGTI stock traded up $0.02 during trading hours on Tuesday, hitting $22.07. 13,422 shares of the company were exchanged, compared to its average volume of 964,787. PGT Innovations Inc has a fifty-two week low of $13.05 and a fifty-two week high of $26.40. The company has a quick ratio of 3.47, a current ratio of 4.24 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 1.02 and a beta of 0.84.
A number of research firms have weighed in on PGTI. B. Riley increased their target price on shares of PGT Innovations from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. ValuEngine downgraded shares of PGT Innovations from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, Gabelli downgraded shares of PGT Innovations from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Thursday, June 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.00.
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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