Vinva Investment Management Ltd Invests $242,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Vinva Investment Management Ltd acquired a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,784 shares of the company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Beacon Roofing Supply by 19.3% during the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after acquiring an additional 909,819 shares during the last quarter. Norges Bank purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $59,850,000. Acadian Asset Management LLC increased its position in shares of Beacon Roofing Supply by 4,518.3% during the third quarter. Acadian Asset Management LLC now owns 356,902 shares of the company’s stock valued at $27,527,000 after acquiring an additional 349,174 shares during the last quarter. Boston Partners increased its position in shares of Beacon Roofing Supply by 64.5% during the fourth quarter. Boston Partners now owns 715,612 shares of the company’s stock valued at $62,277,000 after acquiring an additional 280,583 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Beacon Roofing Supply by 9.3% during the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock valued at $211,017,000 after acquiring an additional 233,393 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at $1,000,445. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now owns 176 shares in the company, valued at $16,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $96.41 on Friday. Beacon Roofing Supply, Inc. has a one year low of $68.50 and a one year high of $103.75. The business has a fifty day moving average price of $96.87 and a 200-day moving average price of $89.83. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47.

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. As a group, equities analysts anticipate that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BECN shares. JPMorgan Chase & Co. increased their price target on Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. BMO Capital Markets increased their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Benchmark began coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They set a “buy” rating and a $135.00 price objective for the company. Truist Financial increased their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Loop Capital increased their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.45.

Check Out Our Latest Analysis on BECN

About Beacon Roofing Supply

(Free Report)

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company 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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