Wells Fargo & Company MN raised its holdings in shares of SiteOne Landscape Supply Inc (NYSE:SITE) by 10.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,120,650 shares of the industrial products company’s stock after purchasing an additional 197,311 shares during the period. Wells Fargo & Company MN owned approximately 0.05% of SiteOne Landscape Supply worth $159,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its stake in SiteOne Landscape Supply by 4.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,191 shares of the industrial products company’s stock valued at $1,444,000 after acquiring an additional 730 shares in the last quarter. McCollum Christoferson Group LLC raised its stake in SiteOne Landscape Supply by 1.5% during the 3rd quarter. McCollum Christoferson Group LLC now owns 51,456 shares of the industrial products company’s stock valued at $3,877,000 after acquiring an additional 778 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in SiteOne Landscape Supply by 3.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 22,305 shares of the industrial products company’s stock valued at $1,873,000 after acquiring an additional 800 shares in the last quarter. Comerica Bank raised its stake in SiteOne Landscape Supply by 4.9% during the 3rd quarter. Comerica Bank now owns 17,379 shares of the industrial products company’s stock valued at $1,183,000 after acquiring an additional 808 shares in the last quarter. Finally, Granite Investment Partners LLC raised its stake in SiteOne Landscape Supply by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 193,835 shares of the industrial products company’s stock valued at $16,276,000 after acquiring an additional 1,017 shares in the last quarter.
Shares of SITE stock opened at $62.91 on Friday. SiteOne Landscape Supply Inc has a 1 year low of $58.70 and a 1 year high of $95.49. The firm has a market cap of $2.72 billion, a PE ratio of 51.99 and a beta of 1.52. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.29 and a current ratio of 2.72.
SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.02). SiteOne Landscape Supply had a net margin of 3.90% and a return on equity of 31.11%. The firm had revenue of $578.50 million for the quarter, compared to analyst estimates of $590.23 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts expect that SiteOne Landscape Supply Inc will post 1.97 earnings per share for the current year.
Several analysts have weighed in on the company. SunTrust Banks cut their target price on SiteOne Landscape Supply to $79.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Deutsche Bank cut their target price on SiteOne Landscape Supply from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Royal Bank of Canada set a $88.00 target price on SiteOne Landscape Supply and gave the company a “buy” rating in a research note on Thursday, November 1st. They noted that the move was a valuation call. Jefferies Financial Group assumed coverage on SiteOne Landscape Supply in a research note on Friday, October 12th. They set a “buy” rating and a $80.00 target price on the stock. Finally, UBS Group raised SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and set a $75.00 target price on the stock in a research note on Thursday, October 11th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. SiteOne Landscape Supply currently has a consensus rating of “Buy” and an average price target of $80.33.
In related news, EVP L Briley Brisendine, Jr. sold 1,600 shares of SiteOne Landscape Supply stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $89.05, for a total value of $142,480.00. Following the transaction, the executive vice president now directly owns 28,348 shares in the company, valued at approximately $2,524,389.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Doug Black sold 12,000 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $90.01, for a total value of $1,080,120.00. Following the completion of the transaction, the chief executive officer now owns 398,228 shares in the company, valued at $35,844,502.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,700 shares of company stock worth $7,310,225. 4.40% of the stock is owned by insiders.
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SiteOne Landscape Supply Profile
SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.
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