Invesco Ltd. Has $126.81 Million Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Invesco Ltd. raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,248,349 shares of the company’s stock after acquiring an additional 86,209 shares during the period. Invesco Ltd. owned approximately 2.02% of Beacon Roofing Supply worth $126,807,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Beacon Roofing Supply by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock valued at $62,489,000 after buying an additional 11,426 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Beacon Roofing Supply during the 4th quarter worth approximately $24,162,000. Barclays PLC raised its stake in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after purchasing an additional 89,222 shares during the last quarter. Boston Partners lifted its holdings in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after purchasing an additional 59,630 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Beacon Roofing Supply by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after buying an additional 20,372 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $123.15 on Friday. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. The stock has a fifty day moving average of $119.71 and a 200 day moving average of $109.10. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 21.05 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan Stuart Bennett sold 8,487 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the sale, the insider now owns 22,642 shares in the company, valued at $2,765,493.88. The trade was a 27.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the sale, the executive vice president now directly owns 463 shares of the company’s stock, valued at approximately $57,231.43. This represents a 97.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock valued at $6,745,448 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BECN shares. Loop Capital reaffirmed a “hold” rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. StockNews.com began coverage on Beacon Roofing Supply in a research note on Thursday. They issued a “sell” rating on the stock. Robert W. Baird increased their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.10.

Beacon Roofing Supply Company Profile

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.