Gilder Gagnon Howe & Co. LLC Decreases Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Gilder Gagnon Howe & Co. LLC reduced its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,759 shares of the company’s stock after selling 8,231 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Beacon Roofing Supply were worth $13,689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its position 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 valued at $10,547,000 after buying an additional 89,222 shares in the last quarter. Tidal Investments LLC raised its position in shares of Beacon Roofing Supply by 11.8% during the 3rd quarter. Tidal Investments LLC now owns 5,022 shares of the company’s stock worth $434,000 after purchasing an additional 530 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Beacon Roofing Supply by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 540,305 shares of the company’s stock worth $50,443,000 after purchasing an additional 13,092 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Beacon Roofing Supply by 16.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock valued at $30,849,000 after buying an additional 49,902 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in Beacon Roofing Supply during the 4th quarter valued at $210,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 29,724 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now directly owns 87,943 shares of the company’s stock, valued at approximately $10,821,386.15. The trade was a 25.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction, the executive vice president now 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 54,806 shares of company stock valued at $6,745,448 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BECN. Robert W. Baird upped their price objective 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. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Loop Capital reissued a “hold” rating and set a $124.00 price target on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Raymond James downgraded Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $124.35 in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $121.47.

Beacon Roofing Supply Price Performance

BECN stock opened at $124.19 on Friday. The stock has a 50-day moving average price of $120.59 and a two-hundred day moving average price of $111.38. The company has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $124.19.

Beacon Roofing Supply (NASDAQ:BECN) last issued its 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). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. As a group, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Beacon Roofing Supply 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.