Fmr Cuts Stake in Beacon Roofing Supply (BECN)
Fintel reports that Fmr
has filed a 13G/A form
with the SEC disclosing ownership of
6.46MM
shares of Beacon Roofing Supply, Inc. (BECN).
This represents 9.925{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of the company.
In their previous filing dated February 9, 2022
they reported 8.67MM shares and 12.37{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of the company,
a decrease in shares of 25.55{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}
and
a decrease in total ownership of
2.45{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 19.15{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} Upside
As of February 8, 2023,
the average one-year price target for Beacon Roofing Supply is $71.09.
The forecasts range from a low of $52.52 to a high of $95.55.
The average price target represents an increase of 19.15{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} from its latest reported closing price of $59.66.
The projected annual revenue for Beacon Roofing Supply
is $8,621MM, an increase of 2.46{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}.
The projected annual EPS
is $6.25, an increase of 7.04{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}.
What is the Fund Sentiment?
There are 508 funds or institutions reporting positions in Beacon Roofing Supply.
This is a decrease
of
14
owner(s) or 2.68{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the last quarter.
Average portfolio weight of all funds dedicated to BECN is 0.26{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7},
a decrease
of 2.85{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}.
Total shares owned by institutions decreased
in the last three months by 2.51{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} to 74,277K shares.
The put/call ratio of BECN is 0.73, indicating a
bullish
outlook.
What are large shareholders doing?
Clayton, Dubilier & Rice
holds 14,983K shares
representing 23.03{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} ownership of the company.
In it’s prior filing, the firm reported owning 14,878K shares, representing
an increase
of 0.70{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}.
The firm
increased
its portfolio allocation in BECN by 34.33{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} over the last quarter.
T. Rowe Price Investment Management
holds 3,712K shares
representing 5.70{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} ownership of the company.
American Century Companies
holds 2,374K shares
representing 3.65{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} ownership of the company.
In it’s prior filing, the firm reported owning 3,148K shares, representing
a decrease
of 32.56{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}.
The firm
decreased
its portfolio allocation in BECN by 13.53{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} over the last quarter.
Fiduciary Management
holds 1,795K shares
representing 2.76{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} ownership of the company.
In it’s prior filing, the firm reported owning 1,723K shares, representing
an increase
of 4.01{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}.
The firm
increased
its portfolio allocation in BECN by 23.51{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} over the last quarter.
Frontier Capital Management Co
holds 1,763K shares
representing 2.71{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} ownership of the company.
In it’s prior filing, the firm reported owning 1,690K shares, representing
an increase
of 4.15{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}.
The firm
increased
its portfolio allocation in BECN by 13.20{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} over the last quarter.
Beacon Roofing Supply Background Information
(This description is provided by the company.)
Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 90,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.