Janus Henderson Group PLC Has $53.21 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Janus Henderson Group PLC boosted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 1,449.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 615,593 shares of the company's stock after buying an additional 575,852 shares during the quarter. Janus Henderson Group PLC owned approximately 0.99% of Beacon Roofing Supply worth $53,205,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BECN. FMR LLC boosted its stake in shares of Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company's stock valued at $556,253,000 after purchasing an additional 963,633 shares in the last quarter. Fisher Asset Management LLC increased its position in Beacon Roofing Supply by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company's stock valued at $85,887,000 after buying an additional 2,607 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Beacon Roofing Supply by 18.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company's stock worth $83,239,000 after purchasing an additional 152,030 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Beacon Roofing Supply by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company's stock valued at $52,182,000 after buying an additional 5,497 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in Beacon Roofing Supply by 1.6% in the 3rd quarter. WCM Investment Management LLC now owns 524,985 shares of the company's stock worth $46,052,000 after acquiring an additional 8,054 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BECN. Stephens reiterated an "equal weight" rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Royal Bank of Canada increased their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target 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. Benchmark reaffirmed a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Finally, Robert W. Baird lifted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $118.00.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the completion of the sale, the insider now directly owns 69,514 shares of the company's stock, valued at approximately $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the sale, the insider now directly owns 9,131 shares of the company's stock, valued at $821,790. This trade represents a 22.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,874 shares of company stock worth $1,812,146. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Trading Down 1.4 %

Shares of Beacon Roofing Supply stock traded down $1.53 during trading hours on Friday, reaching $111.57. The stock had a trading volume of 494,907 shares, compared to its average volume of 722,651. The firm has a 50 day simple moving average of $99.36 and a two-hundred day simple moving average of $94.08. 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 1 year low of $77.54 and a 1 year high of $116.30. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 19.33 and a beta of 1.59.

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.