Personal Capital Advisors Corp Raises Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Personal Capital Advisors Corp lifted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Rating) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,372 shares of the company’s stock after buying an additional 4,747 shares during the period. Personal Capital Advisors Corp owned approximately 0.29% of Beacon Roofing Supply worth $11,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BECN. JPMorgan Chase & Co. increased its holdings in shares of Beacon Roofing Supply by 560.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,085,625 shares of the company’s stock worth $119,611,000 after buying an additional 1,769,848 shares during the last quarter. American Century Companies Inc. increased its holdings in Beacon Roofing Supply by 8.6% in the 1st quarter. American Century Companies Inc. now owns 3,622,807 shares of the company’s stock valued at $214,760,000 after purchasing an additional 285,685 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Beacon Roofing Supply by 24.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 621,115 shares of the company’s stock valued at $36,820,000 after purchasing an additional 123,395 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Beacon Roofing Supply by 20.2% in the 4th quarter. Nuveen Asset Management LLC now owns 684,336 shares of the company’s stock valued at $39,247,000 after purchasing an additional 115,112 shares in the last quarter. Finally, Clayton Dubilier & Rice LLC increased its holdings in Beacon Roofing Supply by 0.8% in the 1st quarter. Clayton Dubilier & Rice LLC now owns 14,671,917 shares of the company’s stock valued at $869,751,000 after purchasing an additional 112,962 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BECN. Deutsche Bank Aktiengesellschaft began coverage on Beacon Roofing Supply in a research note on Wednesday, August 17th. They set a “buy” rating for the company. Stephens lowered their target price on Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, August 8th. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $70.00 to $58.00 in a research note on Wednesday, June 22nd. Wells Fargo & Company cut their target price on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 28th. Finally, William Blair cut Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 19th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.43.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 103,931 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were acquired at an average price of $57.73 per share, with a total value of $5,999,936.63. Following the completion of the purchase, the insider now directly owns 14,859,579 shares in the company, valued at approximately $857,843,495.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $56.53 on Monday. The firm’s 50-day moving average is $57.41 and its 200-day moving average is $58.42. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week high of $65.30. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.02 and a current ratio of 1.91. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 12.00 and a beta of 1.79.

Beacon Roofing Supply (NASDAQ:BECNGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.44. Beacon Roofing Supply had a net margin of 5.25% and a return on equity of 29.19%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 6.94 earnings per share for the current year.

Beacon Roofing Supply Company Profile

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Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.

Further Reading

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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