Raymond James & Associates Increases Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Raymond James & Associates grew its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 8.0% in the third quarter, HoldingsChannel reports. The fund owned 309,389 shares of the industrial products company’s stock after acquiring an additional 23,021 shares during the quarter. Raymond James & Associates’ holdings in SiteOne Landscape Supply were worth $46,690,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SITE. Wasatch Advisors LP raised its holdings in SiteOne Landscape Supply by 47.8% in the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after purchasing an additional 319,071 shares during the period. Bank of New York Mellon Corp increased its holdings in SiteOne Landscape Supply by 49.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock worth $58,226,000 after acquiring an additional 158,350 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in SiteOne Landscape Supply during the first quarter worth $21,860,000. Vaughan Nelson Investment Management L.P. lifted its holdings in SiteOne Landscape Supply by 130.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock valued at $24,065,000 after purchasing an additional 112,362 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of SiteOne Landscape Supply by 44.3% in the second quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company’s stock valued at $43,717,000 after purchasing an additional 110,589 shares during the period.

SiteOne Landscape Supply Trading Down 2.0 %

Shares of SITE stock opened at $139.20 on Wednesday. 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, Inc. has a twelve month low of $114.60 and a twelve month high of $188.01. The company’s 50-day moving average price is $142.62 and its 200-day moving average price is $143.14. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 41.31 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm earned $2.71 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 878 shares of the stock in a transaction 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 directly owns 11,267 shares in the company, valued at approximately $1,453,893.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

SITE has been the subject of several research analyst reports. Royal Bank of Canada reduced their price target on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Barclays lowered their price target on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. StockNews.com downgraded SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. UBS Group lowered their target price on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Truist Financial increased their target price on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $147.20.

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.