roofer

Aviva PLC Has $1.52 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Aviva PLC cut its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 34.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,740 shares of the company’s stock after selling 16,566 shares during the period. Aviva PLC’s holdings in Beacon Roofing Supply were worth $1,516,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Beacon Roofing Supply by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 299,616 shares of the company’s stock valued at $15,954,000 after purchasing an additional 9,938 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Beacon Roofing Supply by 66.1% in the second quarter. First Trust Advisors LP now owns 51,930 shares of the company’s stock valued at $2,765,000 after buying an additional 20,667 shares during the last quarter. Amalgamated Bank lifted its position in shares of Beacon Roofing Supply by 124.0% in the second quarter. Amalgamated Bank now owns 9,865 shares of the company’s stock valued at $525,000 after buying an additional 5,461 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Beacon Roofing Supply by 4.4% in the second quarter. Geode Capital Management LLC now owns 969,177 shares of the company’s stock valued at $51,608,000 after buying an additional 40,457 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Beacon Roofing Supply by 47,383.7% in the second quarter. Macquarie Group Ltd. now owns 487,183 shares of the company’s stock valued at $25,943,000 after buying an additional 486,157 shares during the last quarter.

Shares of BECN stock opened at $53.50 on Monday. The stock’s fifty day moving average price is $54.73 and its two-hundred day moving average price is $53.17. The company has a market cap of $3.77 billion, a PE ratio of -40.23 and a beta of 2.01. Beacon Roofing Supply, Inc. has a fifty-two week low of $39.14 and a fifty-two week high of $60.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.08 and a current ratio of 1.82.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, November 18th. The company reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.32). The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.88 billion. Beacon Roofing Supply had a negative net margin of 0.69% and a positive return on equity of 22.23%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 5.01 EPS for the current fiscal year.

In other news, major shareholder Cd&R Investment Associates Ix, acquired 107,456 shares of the business’s stock in a transaction that occurred on Friday, January 28th. The shares were bought at an average price of $55.84 per share, with a total value of $6,000,343.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Raymond James upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating and set a $62.00 target price on the stock in a research note on Monday, December 6th. Stephens increased their target price on Beacon Roofing Supply from $56.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 24th. Truist Financial lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their target price for the stock from $65.00 to $58.00 in a research note on Monday, November 29th. Finally, Royal Bank of Canada upgraded Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a research note on Monday, October 18th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $59.73.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.

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

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Aviva PLC Has $1.52 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

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