9,510 Shares in SiteOne Landscape Supply Inc (SITE) Purchased by Stone Ridge Asset Management LLC
Stone Ridge Asset Management LLC acquired a new position in SiteOne Landscape Supply Inc (NYSE:SITE) during the fourth quarter, Holdings Channel reports. The fund acquired 9,510 shares of the industrial products company’s stock, valued at approximately $729,000.
Other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new position in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $161,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in SiteOne Landscape Supply by 57.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,305 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 843 shares during the last quarter. First Allied Advisory Services Inc. purchased a new stake in SiteOne Landscape Supply during the 4th quarter worth approximately $204,000. Prudential Financial Inc. purchased a new stake in SiteOne Landscape Supply during the 3rd quarter worth approximately $205,000. Finally, California Public Employees Retirement System purchased a new stake in SiteOne Landscape Supply during the 2nd quarter worth approximately $250,000.
Several research firms have weighed in on SITE. Zacks Investment Research raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Barclays set a $65.00 target price on shares of SiteOne Landscape Supply and gave the stock a “hold” rating in a research report on Monday, January 8th. Royal Bank of Canada set a $85.00 target price on shares of SiteOne Landscape Supply and gave the stock a “buy” rating in a research report on Wednesday, February 14th. UBS set a $71.00 target price on shares of SiteOne Landscape Supply and gave the stock a “sell” rating in a research report on Wednesday, February 21st. Finally, SunTrust Banks boosted their target price on shares of SiteOne Landscape Supply to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $74.33.
SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $415.70 million for the quarter, compared to the consensus estimate of $410.38 million. SiteOne Landscape Supply had a net margin of 2.93% and a return on equity of 27.59%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. equities analysts expect that SiteOne Landscape Supply Inc will post 1.9 earnings per share for the current year.
In other news, EVP Ross Anker sold 6,080 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $71.38, for a total value of $433,990.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Doug Black sold 12,000 shares of the company’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $75.32, for a total transaction of $903,840.00. Following the completion of the sale, the chief executive officer now directly owns 403,228 shares in the company, valued at $30,371,132.96. The disclosure for this sale can be found here. Insiders sold a total of 41,840 shares of company stock worth $3,115,300 over the last ninety days. Insiders own 4.00% of the company’s stock.
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About SiteOne Landscape Supply
SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.
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