PGT Innovations Inc (PGTI) Shares Bought by BlackRock Inc.
BlackRock Inc. lifted its position in PGT Innovations Inc (NYSE:PGTI) by 21.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,619,651 shares of the construction company’s stock after buying an additional 1,528,193 shares during the quarter. BlackRock Inc. owned approximately 16.99% of PGT Innovations worth $179,719,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Citigroup Inc. raised its holdings in shares of PGT Innovations by 27.2% in the 1st quarter. Citigroup Inc. now owns 14,236 shares of the construction company’s stock valued at $265,000 after buying an additional 3,042 shares during the period. Swiss National Bank raised its holdings in shares of PGT Innovations by 3.7% in the 1st quarter. Swiss National Bank now owns 86,400 shares of the construction company’s stock valued at $1,611,000 after buying an additional 3,100 shares during the period. US Bancorp DE increased its holdings in PGT Innovations by 7.2% during the 1st quarter. US Bancorp DE now owns 56,135 shares of the construction company’s stock worth $1,047,000 after purchasing an additional 3,776 shares during the period. Northern Trust Corp increased its holdings in PGT Innovations by 0.7% during the 1st quarter. Northern Trust Corp now owns 621,856 shares of the construction company’s stock worth $11,598,000 after purchasing an additional 4,539 shares during the period. Finally, Rhumbline Advisers increased its holdings in PGT Innovations by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 117,800 shares of the construction company’s stock worth $2,456,000 after purchasing an additional 4,672 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.
PGTI has been the topic of several recent research reports. Gabelli downgraded PGT Innovations from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Thursday, June 14th. They noted that the move was a valuation call. B. Riley upped their price target on PGT Innovations from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, ValuEngine downgraded PGT Innovations from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. One 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.00.
PGT Innovations (NYSE:PGTI) last issued its quarterly earnings results on Monday, July 30th. The construction company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. PGT Innovations had a return on equity of 26.98% and a net margin of 9.90%. The company had revenue of $169.27 million for the quarter, compared to the consensus estimate of $169.00 million. During the same quarter in the prior year, the business earned $0.20 EPS. PGT Innovations’s revenue was up 23.2% on a year-over-year basis. research analysts expect that PGT Innovations Inc will post 1.11 earnings per share for the current fiscal year.
PGT Innovations Company Profile
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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