TD Asset Management Inc Boosts Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

TD Asset Management Inc raised its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 17.4% in the second quarter, Holdings Channel reports. The institutional investor owned 36,112 shares of the industrial products company’s stock after buying an additional 5,340 shares during the quarter. TD Asset Management Inc’s holdings in SiteOne Landscape Supply were worth $4,384,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new position in shares of SiteOne Landscape Supply during the first quarter worth about $29,000. Principal Securities Inc. purchased a new position in shares of SiteOne Landscape Supply during the fourth quarter worth about $31,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of SiteOne Landscape Supply during the second quarter worth about $27,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of SiteOne Landscape Supply by 588.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 247 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new position in shares of SiteOne Landscape Supply during the first quarter worth about $58,000.

Analyst Upgrades and Downgrades

SITE has been the subject of several recent analyst reports. StockNews.com lowered SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Robert W. Baird cut their target price on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a research note on Thursday, August 1st. Truist Financial upped their target price on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada cut their target price on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus target price of $144.33.

Insider Activity at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 878 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $129.04, for a total transaction of $113,297.12. Following the completion of the transaction, the director now owns 11,267 shares in the company, valued at $1,453,893.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock opened at $132.10 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 2.47. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The stock has a 50 day moving average price of $135.34 and a two-hundred day moving average price of $149.00. The company has a market capitalization of $5.96 billion, a P/E ratio of 38.29 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.13. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Analysts expect that SiteOne Landscape Supply, Inc. will post 3.19 earnings per share for the current year.

SiteOne Landscape Supply Profile

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.