Principal Financial Group Inc. Lowers Holdings in PGT Innovations, Inc. (NYSE:PGTI)

Principal Financial Group Inc. decreased its stake in shares of PGT Innovations, Inc. (NYSE:PGTI) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,704 shares of the construction company’s stock after selling 33,224 shares during the quarter. Principal Financial Group Inc. owned about 0.58% of PGT Innovations worth $9,990,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Money Concepts Capital Corp bought a new stake in shares of PGT Innovations in the 4th quarter worth $27,000. Clearstead Advisors LLC bought a new stake in shares of PGT Innovations in the third quarter worth $42,000. UBS Group AG grew its holdings in shares of PGT Innovations by 22.2% in the third quarter. UBS Group AG now owns 4,524 shares of the construction company’s stock worth $95,000 after acquiring an additional 822 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of PGT Innovations by 108.8% in the third quarter. Tower Research Capital LLC TRC now owns 4,722 shares of the construction company’s stock worth $99,000 after acquiring an additional 2,460 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of PGT Innovations by 35.0% in the first quarter. Captrust Financial Advisors now owns 6,136 shares of the construction company’s stock worth $110,000 after acquiring an additional 1,591 shares during the period. Hedge funds and other institutional investors own 82.66% of the company’s stock.

PGT Innovations Stock Performance

NYSE:PGTI opened at $31.89 on Tuesday. The stock has a 50-day simple moving average of $29.19 and a two-hundred day simple moving average of $27.99. PGT Innovations, Inc. has a 52-week low of $17.43 and a 52-week high of $32.78. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.61 and a current ratio of 2.31. The firm has a market capitalization of $1.82 billion, a PE ratio of 16.61, a P/E/G ratio of 0.92 and a beta of 1.43.

Analyst Upgrades and Downgrades

PGTI has been the subject of several research analyst reports. Truist Financial lifted their price objective on PGT Innovations from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 11th. StockNews.com raised PGT Innovations from a “hold” rating to a “buy” rating in a report on Monday, November 6th.

Insider Buying and Selling at PGT Innovations

In other PGT Innovations news, Director Rodney Hershberger sold 2,500 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $28.56, for a total transaction of $71,400.00. Following the completion of the sale, the director now owns 1,341,655 shares of the company’s stock, valued at $38,317,666.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PGT Innovations news, Director Christopher J. Stephens acquired 3,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average cost of $26.33 per share, for a total transaction of $78,990.00. Following the completion of the transaction, the director now directly owns 6,434 shares of the company’s stock, valued at $169,407.22. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rodney Hershberger sold 2,500 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $28.56, for a total value of $71,400.00. Following the completion of the transaction, the director now owns 1,341,655 shares in the company, valued at $38,317,666.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock valued at $215,350. Company insiders own 4.90% of the company’s stock.

About PGT Innovations

PGT Innovations, Inc, together with its subsidiaries manufactures and supplies 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.