Envestnet Asset Management Inc. Has $3.74 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Envestnet Asset Management Inc. reduced its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,287 shares of the company’s stock after selling 1,806 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Beacon Roofing Supply worth $3,736,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply during the 1st quarter worth $26,000. PNC Financial Services Group Inc. increased its stake in shares of Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after acquiring an additional 203 shares during the last quarter. Quarry LP raised its position in shares of Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 225 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Beacon Roofing Supply by 28.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after acquiring an additional 116 shares during the period. Finally, Plato Investment Management Ltd boosted its stake in Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after acquiring an additional 648 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Up 0.6 %

Shares of NASDAQ:BECN opened at $85.35 on Thursday. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of -135.48 and a beta of 1.55. The business’s 50-day moving average is $87.42 and its 200-day moving average is $92.81. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. Beacon Roofing Supply, Inc. has a 1 year low of $68.50 and a 1 year high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.66 EPS. Equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on BECN. Stephens lowered their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Robert W. Baird lowered their price target on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada cut their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.30.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 1,627 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the completion of the sale, the executive vice president now owns 320 shares of the company’s stock, valued at $27,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Christopher Carl Nelson sold 1,627 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $27,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Prithvi Gandhi purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $82.29 per share, with a total value of $411,450.00. Following the purchase, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $411,450. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

About Beacon Roofing Supply

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.