Pier Capital LLC Invests $3.79 Million in SiteOne Landscape Supply, Inc. $SITE

Pier Capital LLC acquired a new position in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 30,403 shares of the industrial products company’s stock, valued at approximately $3,787,000.

Other large investors have also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of SiteOne Landscape Supply by 541.9% in the fourth quarter. True Wealth Design LLC now owns 199 shares of the industrial products company’s stock worth $25,000 after buying an additional 168 shares during the period. NewEdge Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after buying an additional 107 shares during the period. Danske Bank A S purchased a new position in SiteOne Landscape Supply during the 3rd quarter valued at about $52,000. Tower Research Capital LLC TRC increased its holdings in SiteOne Landscape Supply by 145.2% during the 2nd 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 during the period. Finally, Bessemer Group Inc. increased 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 valued at $58,000 after purchasing an additional 329 shares during the period.

SiteOne Landscape Supply Stock Up 2.3%

Shares of NYSE:SITE opened at $125.06 on Friday. The stock’s 50-day moving average is $134.65 and its 200 day moving average is $135.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. The company has a market cap of $5.54 billion, a PE ratio of 37.11, a P/E/G ratio of 1.59 and a beta of 1.42. SiteOne Landscape Supply, Inc. has a 1 year low of $112.23 and a 1 year high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The firm had revenue of $940.10 million for the quarter, compared to the consensus estimate of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.61) earnings per share. Sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SITE. Bank of America reduced their price target on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a report on Monday, April 20th. UBS Group began coverage on SiteOne Landscape Supply in a report on Friday, April 10th. They set a “neutral” rating and a $140.00 price target on the stock. Zacks Research upgraded SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Truist Financial boosted their price target on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a report on Monday. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $160.10.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply 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 sale, the executive vice president directly owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. The trade was a 37.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

About SiteOne Landscape Supply

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.