Fifth Third Bancorp Grows Stake in SiteOne Landscape Supply, Inc. $SITE

Fifth Third Bancorp increased its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 28,557.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 143,574 shares of the industrial products company’s stock after acquiring an additional 143,073 shares during the quarter. Fifth Third Bancorp’s holdings in SiteOne Landscape Supply were worth $19,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SITE. Man Group plc increased its position in SiteOne Landscape Supply by 0.4% during the second quarter. Man Group plc now owns 22,338 shares of the industrial products company’s stock valued at $2,702,000 after acquiring an additional 86 shares during the last quarter. Whittier Trust Co. boosted its position in SiteOne Landscape Supply by 72.7% in the first quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 88 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in SiteOne Landscape Supply by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company’s stock worth $2,109,000 after purchasing an additional 89 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 107 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC grew its stake in shares of SiteOne Landscape Supply by 2.0% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 5,915 shares of the industrial products company’s stock valued at $737,000 after purchasing an additional 118 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $160.00 price objective on shares of SiteOne Landscape Supply in a research note on Thursday, April 30th. Stifel Nicolaus cut their target price on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Zacks Research cut shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Barclays decreased their price target on shares of SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Bank of America dropped their price target on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus target price of $158.36.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of SiteOne Landscape Supply stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total transaction of $64,818.19. Following the transaction, the director owned 11,829 shares of the company’s stock, valued at $1,361,872.77. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Stock Down 1.6%

NYSE SITE opened at $105.19 on Tuesday. The stock’s 50-day moving average price is $111.42 and its 200-day moving average price is $129.43. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply, Inc. has a 52 week low of $100.52 and a 52 week high of $168.56. The company has a market capitalization of $4.66 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.34.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). The company 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 company’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.61) earnings per share. On average, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 4.06 earnings per share for the current year.

SiteOne Landscape Supply 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.