Healthcare of Ontario Pension Plan Trust Fund Cuts Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 71.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the company’s stock after selling 50,103 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Beacon Roofing Supply were worth $1,960,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BECN. Allspring Global Investments Holdings LLC purchased a new position in shares of Beacon Roofing Supply in the 1st quarter valued at about $26,000. PNC Financial Services Group Inc. increased its holdings 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 increased its holdings 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 last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $36,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Beacon Roofing Supply by 86.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 910 shares of the company’s stock valued at $79,000 after acquiring an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

NASDAQ BECN traded up $2.43 during mid-day trading on Thursday, hitting $98.35. The stock had a trading volume of 574,797 shares, compared to its average volume of 694,922. Beacon Roofing Supply, Inc. has a 52-week low of $68.50 and a 52-week high of $103.75. The company has a market cap of $6.26 billion, a price-to-earnings ratio of -157.17 and a beta of 1.58. The company has a 50 day simple moving average of $95.11 and a 200 day simple moving average of $92.16. 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:BECN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.88 billion. Equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Benchmark assumed coverage on Beacon Roofing Supply in a research report on Thursday, April 18th. They issued a “buy” rating and a $135.00 target price for the company. StockNews.com cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Loop Capital upped their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.45.

Insider Activity at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 2,955 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the transaction, the executive vice president now directly owns 320 shares of the company’s stock, valued at approximately $29,155.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

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.