Inceptionr LLC Raises Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

Inceptionr LLC raised its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 133.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,382 shares of the industrial products company’s stock after purchasing an additional 4,223 shares during the period. Inceptionr LLC’s holdings in SiteOne Landscape Supply were worth $951,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Allworth Financial LP lifted its position in shares of SiteOne Landscape Supply by 61.2% during the 2nd quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. NewEdge Advisors LLC raised its position in SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 107 shares during the period. HM Payson & Co. raised its position in SiteOne Landscape Supply by 32.2% during the third quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 97 shares during the period. Tower Research Capital LLC TRC lifted its holdings in SiteOne Landscape Supply by 145.2% during the second quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 270 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of SiteOne Landscape Supply by 276.5% in the third quarter. Bessemer Group Inc. now owns 448 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 329 shares during the period.

SiteOne Landscape Supply Stock Up 2.5%

Shares of NYSE SITE opened at $134.12 on Tuesday. The company has a market capitalization of $5.96 billion, a P/E ratio of 39.92, a P/E/G ratio of 1.69 and a beta of 1.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20. The company has a 50 day simple moving average of $143.73 and a 200-day simple moving average of $135.33. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.48) earnings per share. On average, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SITE. Robert W. Baird set a $190.00 price target on shares of SiteOne Landscape Supply in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, January 21st. Bank of America assumed coverage on shares of SiteOne Landscape Supply in a report on Thursday, December 18th. They issued a “buy” rating and a $147.00 price objective for the company. Barclays upped their price target on SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Finally, Truist Financial upped their target price on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $159.44.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply stock in a transaction on Friday, February 13th. The stock was sold at an average price of $158.01, for a total value of $278,887.65. Following the sale, the executive vice president owned 2,911 shares in the company, valued at $459,967.11. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Company 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.