Capital World Investors Raises Holdings in SiteOne Landscape Supply, Inc. $SITE

Capital World Investors raised its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 3.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,016,671 shares of the industrial products company’s stock after purchasing an additional 32,682 shares during the quarter. Capital World Investors’ holdings in SiteOne Landscape Supply were worth $130,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its position in shares of SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock worth $29,000 after buying an additional 90 shares in the last quarter. NewEdge Advisors LLC raised its holdings in SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 107 shares in the last quarter. HM Payson & Co. raised its holdings in SiteOne Landscape Supply by 32.2% in the third quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 97 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in SiteOne Landscape Supply by 145.2% in the second quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 270 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in SiteOne Landscape Supply by 276.5% during the 3rd quarter. Bessemer Group Inc. now owns 448 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 329 shares in the last quarter.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $158.01, for a total transaction of $278,887.65. Following the completion of the sale, the executive vice president directly owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. This trade represents a 37.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

SiteOne Landscape Supply Trading Up 0.1%

NYSE SITE opened at $135.29 on Thursday. The firm’s fifty day moving average is $144.11 and its two-hundred day moving average is $135.24. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $168.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.20 and a current ratio of 2.47. The firm has a market cap of $6.01 billion, a PE ratio of 40.26, a P/E/G ratio of 1.75 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.09. SiteOne Landscape Supply had a net margin of 3.23% and a return on equity of 9.28%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SITE shares. Royal Bank Of Canada increased their price objective on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Bank of America began coverage on shares of SiteOne Landscape Supply in a research report on Thursday, December 18th. They set a “buy” rating and a $147.00 price objective for the company. Stifel Nicolaus set a $144.00 target price on SiteOne Landscape Supply in a report on Monday, February 9th. Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, January 21st. Finally, Zacks Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average price target of $159.44.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.