Bessemer Group Inc. Lowers Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bessemer Group Inc. trimmed its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 70.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218 shares of the industrial products company’s stock after selling 514 shares during the period. Bessemer Group Inc.’s holdings in SiteOne Landscape Supply were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Trust Co. of Vermont lifted its position in shares of SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 250 shares during the period. Tortoise Investment Management LLC boosted its position in SiteOne Landscape Supply by 78.9% during the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 131 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in SiteOne Landscape Supply in the fourth quarter valued at $40,000. Brown Brothers Harriman & Co. increased its position in shares of SiteOne Landscape Supply by 395.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock valued at $45,000 after buying an additional 273 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of SiteOne Landscape Supply in the third quarter valued at $71,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SITE shares. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday, March 16th. Stifel Nicolaus restated a “hold” rating and set a $140.00 price objective (down from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday, February 10th. Royal Bank of Canada raised their price target on SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. UBS Group reduced their price objective on SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays cut their target price on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $149.70.

SiteOne Landscape Supply Price Performance

SiteOne Landscape Supply stock opened at $112.07 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 41.66 and a beta of 1.62. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $166.34. The firm has a 50 day moving average price of $123.76 and a 200 day moving average price of $135.75.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. Sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.