Royal Bank of Canada Has $24.97 Million Stock Position in SiteOne Landscape Supply, Inc. $SITE

Royal Bank of Canada grew its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 24.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,574 shares of the industrial products company’s stock after purchasing an additional 36,581 shares during the period. Royal Bank of Canada’s holdings in SiteOne Landscape Supply were worth $24,969,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Amundi acquired a new position in SiteOne Landscape Supply during the third quarter worth $59,763,000. AQR Capital Management LLC increased its stake in SiteOne Landscape Supply by 171.0% in the 4th quarter. AQR Capital Management LLC now owns 691,558 shares of the industrial products company’s stock valued at $86,140,000 after buying an additional 436,376 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in SiteOne Landscape Supply during the 4th quarter worth about $49,824,000. Capital World Investors lifted its position in SiteOne Landscape Supply by 37.9% during the 4th quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock worth $174,675,000 after buying an additional 385,666 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of SiteOne Landscape Supply by 621.3% during the 4th quarter. Millennium Management LLC now owns 389,981 shares of the industrial products company’s stock worth $48,576,000 after buying an additional 335,916 shares during the last quarter.

Insider Activity

In related news, Director Fred M. Diaz sold 562 shares of SiteOne Landscape Supply stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director owned 11,267 shares of the company’s stock, valued at approximately $1,267,762.84. The trade was a 4.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

SITE has been the topic of a number of recent research reports. Truist Financial lowered their target price on 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. UBS Group reduced their price target on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Thursday, April 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $100.00 price target (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Finally, Zacks Research cut SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average price target of $135.27.

SiteOne Landscape Supply Stock Up 1.7%

SITE opened at $101.00 on Wednesday. SiteOne Landscape Supply, Inc. has a 1-year low of $90.07 and a 1-year high of $168.56. The stock’s fifty day simple moving average is $106.07 and its 200 day simple moving average is $125.91. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4.41 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35.

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

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.