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

Venturi Wealth Management LLC acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,685 shares of the company’s stock, valued at approximately $171,000.

Other large investors also recently bought and sold shares of the company. Truist Financial Corp boosted its holdings in Beacon Roofing Supply by 15.4% in the 4th quarter. Truist Financial Corp now owns 3,590 shares of the company’s stock valued at $365,000 after purchasing an additional 480 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Beacon Roofing Supply in the 4th quarter valued at about $204,000. Principal Securities Inc. boosted its holdings in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after purchasing an additional 196 shares during the last quarter. Equitable Trust Co. boosted its holdings in Beacon Roofing Supply by 1.7% in the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock valued at $734,000 after purchasing an additional 122 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Beacon Roofing Supply by 2.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock valued at $100,076,000 after purchasing an additional 22,122 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

BECN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the company from $131.00 to $122.55 in a report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Friday. They issued a “sell” rating on the stock. Finally, BMO Capital Markets upped their price objective on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $120.17.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $116.62 on Friday. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $121.42. The firm’s 50 day moving average price is $111.30 and its 200 day moving average price is $100.25. The company has a market cap of $7.18 billion, a P/E ratio of 19.93 and a beta of 1.62. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

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.