State of New Jersey Common Pension Fund D Sells 11,135 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

State of New Jersey Common Pension Fund D reduced its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 39.7% in the second quarter, Holdings Channel reports. The institutional investor owned 16,899 shares of the industrial products company’s stock after selling 11,135 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SiteOne Landscape Supply were worth $2,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new stake in shares of SiteOne Landscape Supply in the 1st quarter worth $29,000. Principal Securities Inc. bought a new stake in SiteOne Landscape Supply during the fourth quarter valued at about $31,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in SiteOne Landscape Supply in the second quarter worth about $27,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after buying an additional 247 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new position in shares of SiteOne Landscape Supply during the 1st quarter valued at about $58,000.

Wall Street Analyst Weigh In

A number of research firms have commented on SITE. Jefferies Financial Group decreased their target price on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Robert W. Baird lowered their target price on shares of SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a report on Thursday, August 1st. Truist Financial raised their price target on SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group dropped their price objective on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $144.33.

SiteOne Landscape Supply Price Performance

NYSE:SITE opened at $149.19 on Friday. The business’s 50-day moving average is $138.72 and its 200 day moving average is $148.00. SiteOne Landscape Supply, Inc. has a 12 month low of $114.60 and a 12 month high of $188.01. The company has a market capitalization of $6.73 billion, a P/E ratio of 43.24 and a beta of 1.53. The company has a current ratio of 2.47, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the firm earned $2.71 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.19 earnings per share for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 878 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the sale, the director now directly owns 11,267 shares in the company, valued at approximately $1,453,893.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by company insiders.

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.