Arizona State Retirement System Sells 409 Shares of PGT Innovations, Inc. (NYSE:PGTI)

Arizona State Retirement System cut its stake in shares of PGT Innovations, Inc. (NYSE:PGTI) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,312 shares of the construction company’s stock after selling 409 shares during the period. Arizona State Retirement System’s holdings in PGT Innovations were worth $664,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in PGT Innovations by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,261,432 shares of the construction company’s stock worth $118,255,000 after purchasing an additional 269,699 shares in the last quarter. Boston Partners bought a new stake in shares of PGT Innovations during the third quarter worth about $12,880,000. Wellington Management Group LLP increased its stake in shares of PGT Innovations by 8.2% in the third quarter. Wellington Management Group LLP now owns 3,573,418 shares of the construction company’s stock valued at $99,162,000 after buying an additional 269,891 shares during the period. Illinois Municipal Retirement Fund bought a new position in PGT Innovations in the 3rd quarter valued at approximately $998,000. Finally, First Eagle Investment Management LLC boosted its position in PGT Innovations by 25.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 105,216 shares of the construction company’s stock worth $2,920,000 after buying an additional 21,326 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PGTI shares. StockNews.com assumed coverage on shares of PGT Innovations in a research report on Thursday. They issued a “buy” rating for the company. Truist Financial reduced their price objective on shares of PGT Innovations from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, January 18th.

PGT Innovations Price Performance

PGT Innovations stock opened at $41.99 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.05 and a beta of 1.44. The stock’s 50 day moving average is $41.81 and its 200 day moving average is $37.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.45 and a quick ratio of 1.61. PGT Innovations, Inc. has a one year low of $22.66 and a one year high of $42.00.

PGT Innovations (NYSE:PGTI) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.11). PGT Innovations had a return on equity of 18.46% and a net margin of 7.25%. The firm had revenue of $342.50 million during the quarter, compared to analyst estimates of $339.15 million. During the same quarter last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts expect that PGT Innovations, Inc. will post 2.48 EPS for the current year.

About PGT Innovations

PGT Innovations, Inc, together with its subsidiaries, engages in the manufacture and supply of 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.