Truist Financial Corp Raises Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Truist Financial Corp raised its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,671 shares of the construction company’s stock after acquiring an additional 1,518 shares during the period. Truist Financial Corp’s holdings in Gibraltar Industries were worth $3,765,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Legato Capital Management LLC bought a new stake in shares of Gibraltar Industries during the 4th quarter worth $1,008,000. Pacer Advisors Inc. raised its position in Gibraltar Industries by 122.0% during the fourth quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company’s stock valued at $64,766,000 after purchasing an additional 450,665 shares in the last quarter. Nordea Investment Management AB lifted its stake in Gibraltar Industries by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 113,760 shares of the construction company’s stock worth $9,005,000 after purchasing an additional 8,055 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Gibraltar Industries by 79.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 78,786 shares of the construction company’s stock worth $5,319,000 after purchasing an additional 34,866 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Gibraltar Industries by 8.7% during the 4th quarter. Mackenzie Financial Corp now owns 4,321 shares of the construction company’s stock valued at $341,000 after purchasing an additional 345 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Stock Performance

Shares of Gibraltar Industries stock opened at $72.76 on Tuesday. Gibraltar Industries, Inc. has a 52-week low of $51.36 and a 52-week high of $87.40. The company has a fifty day moving average of $75.76 and a 200-day moving average of $75.00. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 19.56 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The business had revenue of $292.51 million during the quarter, compared to the consensus estimate of $296.29 million. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts forecast that Gibraltar Industries, Inc. will post 4.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.