Canada Pension Plan Investment Board Sells 33,600 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Canada Pension Plan Investment Board decreased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 57.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,500 shares of the company's stock after selling 33,600 shares during the quarter. Canada Pension Plan Investment Board's holdings in Beacon Roofing Supply were worth $2,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at about $31,000. PNC Financial Services Group Inc. increased its holdings in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after buying an additional 163 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after buying an additional 150 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock worth $140,000 after acquiring an additional 196 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $152,000. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BECN. Benchmark reiterated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Loop Capital reiterated a "hold" rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a research note on Friday, March 21st. BMO Capital Markets restated a "market perform" rating and set a $124.35 price objective (down previously from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. Raymond James downgraded Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Baird R W cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Beacon Roofing Supply has an average rating of "Hold" and a consensus target price of $121.47.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares of the company's stock, valued at $57,231.43. This trade represents a 97.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Price Performance

NASDAQ BECN traded up $0.03 during trading hours on Tuesday, reaching $124.22. 8,316,564 shares of the stock traded hands, compared to its average volume of 1,186,515. The stock has a 50 day simple moving average of $120.69 and a two-hundred day simple moving average of $111.87. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $124.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate 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, analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

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.