Venturi Wealth Management LLC Buys New Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Venturi Wealth Management LLC bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,685 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP increased its holdings in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Blue Trust Inc. increased its holdings in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Beacon Roofing Supply in the third quarter valued at $28,000. Principal Securities Inc. increased its holdings in Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after buying an additional 196 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Beacon Roofing Supply by 14.1% in the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after buying an additional 206 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BECN has been the subject of a number of recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. Benchmark reissued a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. BMO Capital Markets boosted their target price on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.17.

Beacon Roofing Supply Stock Down 2.5 %

Shares of NASDAQ BECN opened at $116.62 on Friday. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $121.42. The stock has a market cap of $7.18 billion, a PE ratio of 19.93 and a beta of 1.62. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a 50-day moving average of $111.30 and a 200 day moving average of $100.25.

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.