Van ECK Associates Corp Purchases 6,853 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Van ECK Associates Corp boosted its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 40.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 23,984 shares of the industrial products company’s stock after purchasing an additional 6,853 shares during the period. Van ECK Associates Corp owned about 0.05% of SiteOne Landscape Supply worth $3,338,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of SiteOne Landscape Supply by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 4,158,085 shares of the industrial products company’s stock valued at $725,794,000 after buying an additional 23,362 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of SiteOne Landscape Supply by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,141,624 shares of the industrial products company’s stock valued at $138,605,000 after buying an additional 28,265 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of SiteOne Landscape Supply by 10.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 568,349 shares of the industrial products company’s stock valued at $69,007,000 after buying an additional 53,131 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of SiteOne Landscape Supply by 49.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock valued at $58,226,000 after buying an additional 158,350 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of SiteOne Landscape Supply by 44.3% during the 2nd 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 last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SITE shares. Royal Bank of Canada reduced their target price on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Barclays raised their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target on the stock. Robert W. Baird lifted their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $147.80.

SiteOne Landscape Supply Stock Performance

SITE stock opened at $151.93 on Friday. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 49.17 and a beta of 1.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The firm has a 50-day simple moving average of $144.23 and a two-hundred day simple moving average of $141.42. SiteOne Landscape Supply, Inc. has a one year low of $114.60 and a one year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $1.25 EPS. SiteOne Landscape Supply’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 EPS for the current fiscal 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.