According to the company's most recent 13F filing with the Securities and Exchange Commission, Goldman Sachs Group Inc. boosted its position in shares of Beacon by 11.6% in the fourth quarter of 2023. 

The institutional investor owned 602,287 shares of the company's stock after purchasing an additional 62,690 shares during the period. At the end of the most recent reporting period, Goldman Sachs Group Inc. owned approximately 0.95% of Beacon Roofing Supply, worth $52.4M.

While StockNews.com downgraded shares of Beacon from a "buy" rating to a "hold" rating in a research report in early May, other institutional investors and analysts expressed more confidence in the company, which trades on the NASDAQ exchange under the ticker BECN.

Quantedge Capital Pte Ltd acquired a new position in Beacon during the 4th quarter worth $2,498,000. Teacher Retirement System of Texas lifted its position in shares of Beacon Roofing Supply by 87.1% in the fourth quarter and now owns 49,733 worth around $4.3M after buying an additional 23,149 shares during the last quarter. 

Vaughan Nelson Investment Management L.P. lifted its position in shares of Beacon by 4.3% in the fourth quarter and now holds 662,657 shares worth more than $57M. Additionally, Virtu Financial LLC bought a new position in Beacon during the fourth quarter worth about $711,000. 

According to financial disclosure statements, institutional investors and hedge funds own 98.45% of Beacon stock.

Beacon released its 2024 Q1 earnings results on May 2. According to Marketbeat, the firm reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.88 billion.

At the time of this writing on June 20, Beacon was down $1.89 to $94.91 per share in moderate trading. Analysts generally rate the stock as a “Moderate Buy” and have set a target price of $109.45 per share. Beacon has a market capitalization of $6.03 billion.