Principal Financial Group Inc. Has $478,000 Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Principal Financial Group Inc. lowered its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 11.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,168 shares of the industrial products company’s stock after selling 405 shares during the period. Principal Financial Group Inc.’s holdings in SiteOne Landscape Supply were worth $478,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its stake in SiteOne Landscape Supply by 90.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. boosted its position in shares of SiteOne Landscape Supply by 287.7% in the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 187 shares during the period. American National Bank & Trust acquired a new stake in shares of SiteOne Landscape Supply in the third quarter worth $49,000. Wilmington Savings Fund Society FSB bought a new position in SiteOne Landscape Supply during the third quarter worth $71,000. Finally, Eagle Bay Advisors LLC raised its stake in SiteOne Landscape Supply by 126.9% during the 3rd quarter. Eagle Bay Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 278 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays increased their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group assumed coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price objective on the stock. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $175.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $156.44.

SiteOne Landscape Supply Stock Performance

SITE stock opened at $130.33 on Monday. SiteOne Landscape Supply, Inc. has a twelve month low of $114.60 and a twelve month high of $188.01. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.88 billion, a P/E ratio of 42.18 and a beta of 1.56. The business’s fifty day moving average is $143.28 and its 200-day moving average is $139.60.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. Equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 2.94 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the transaction, the executive vice president now directly owns 12,942 shares in the company, valued at approximately $1,840,352.40. The trade was a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

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.