Madison Asset Management LLC Buys Shares of 21,075 SiteOne Landscape Supply, Inc. $SITE

Madison Asset Management LLC purchased a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,075 shares of the industrial products company’s stock, valued at approximately $2,411,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of SiteOne Landscape Supply by 24.4% in the 4th quarter. Comerica Bank now owns 134,716 shares of the industrial products company’s stock valued at $16,780,000 after acquiring an additional 26,436 shares in the last quarter. Bamco Inc. NY lifted its position in SiteOne Landscape Supply by 3.1% in the 4th quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after buying an additional 61,490 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in SiteOne Landscape Supply in the second quarter worth approximately $3,059,000. Pier Capital LLC bought a new position in SiteOne Landscape Supply during the fourth quarter valued at approximately $3,787,000. Finally, Summit Creek Advisors LLC grew its position in SiteOne Landscape Supply by 22.1% during the fourth quarter. Summit Creek Advisors LLC now owns 73,442 shares of the industrial products company’s stock valued at $9,148,000 after acquiring an additional 13,312 shares during the last quarter.

Analyst Upgrades and Downgrades

SITE has been the topic of several research reports. KeyCorp decreased their price target on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Truist Financial decreased their target price on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings lowered shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Thursday, April 30th. Finally, Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and an average target price of $135.27.

SiteOne Landscape Supply Price Performance

SITE stock opened at $95.64 on Friday. The firm’s 50-day moving average price is $104.17 and its two-hundred day moving average price is $121.87. SiteOne Landscape Supply, Inc. has a 12-month low of $90.07 and a 12-month high of $168.56. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.42 and a beta of 1.35. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $2.86 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Insider Activity

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total value of $64,818.19. Following the completion of the sale, the director directly owned 11,829 shares in the company, valued at $1,361,872.77. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Doug Black acquired 8,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were purchased at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the transaction, the chief executive officer owned 8,000 shares in the company, valued at approximately $816,240. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.10% of the stock is owned by insiders.

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.