SiteOne Landscape Supply, Inc. $SITE Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 79.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,238 shares of the industrial products company’s stock after selling 102,044 shares during the period. Granite Investment Partners LLC’s holdings in SiteOne Landscape Supply were worth $3,379,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of SiteOne Landscape Supply by 61.2% in the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 90 shares in the last quarter. NewEdge Advisors LLC raised its stake 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 valued at $48,000 after acquiring an additional 107 shares in the last quarter. HM Payson & Co. boosted 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 purchasing an additional 97 shares during the period. Tower Research Capital LLC TRC boosted its holdings 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 valued at $55,000 after purchasing an additional 270 shares during the period. Finally, Bessemer Group Inc. grew its stake 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 purchasing an additional 329 shares in the last quarter.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $146.78 on Tuesday. The stock has a 50 day moving average price of $141.19 and a 200 day moving average price of $135.24. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth ratio of 1.93 and a beta of 1.59. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week 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) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.09. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. SiteOne Landscape Supply had a net margin of 3.23% and a return on equity of 9.28%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.48) earnings per share. Research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply stock in a transaction on Friday, February 13th. The shares were 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 in the company, valued at $459,967.11. This trade represents a 37.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America assumed coverage on SiteOne Landscape Supply in a research report on Thursday, December 18th. They issued a “buy” rating and a $147.00 price target on the stock. Zacks Research upgraded shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Royal Bank Of Canada lifted their price target on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Truist Financial boosted their price target on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply has a consensus rating of “Hold” and an average price target of $159.44.

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.