Nordea Investment Management AB increased its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Rating) by 14.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,804 shares of the industrial products company’s stock after purchasing an additional 851 shares during the period. Nordea Investment Management AB’s holdings in SiteOne Landscape Supply were worth $1,114,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in SiteOne Landscape Supply in the fourth quarter worth about $192,495,000. Massachusetts Financial Services Co. MA purchased a new stake in SiteOne Landscape Supply during the 4th quarter valued at about $71,647,000. Goldman Sachs Group Inc. increased its holdings in shares of SiteOne Landscape Supply by 82.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 589,599 shares of the industrial products company’s stock valued at $142,848,000 after purchasing an additional 265,954 shares during the period. Millennium Management LLC raised its stake in shares of SiteOne Landscape Supply by 104.7% in the fourth quarter. Millennium Management LLC now owns 315,637 shares of the industrial products company’s stock worth $76,473,000 after purchasing an additional 161,452 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of SiteOne Landscape Supply by 95.7% during the fourth quarter. Renaissance Technologies LLC now owns 193,900 shares of the industrial products company’s stock worth $46,978,000 after purchasing an additional 94,800 shares during the period.
SITE opened at $118.35 on Wednesday. The company has a market cap of $5.32 billion, a PE ratio of 20.62 and a beta of 1.32. SiteOne Landscape Supply, Inc. has a twelve month low of $108.77 and a twelve month high of $260.00. The company has a 50-day moving average price of $129.95 and a 200 day moving average price of $166.14. The company has a quick ratio of 0.89, a current ratio of 2.32 and a debt-to-equity ratio of 0.41.
SiteOne Landscape Supply (NYSE:SITE – Get Rating) last announced its earnings results on Wednesday, May 4th. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.54. The business had revenue of $805.30 million during the quarter, compared to analysts’ expectations of $742.01 million. SiteOne Landscape Supply had a return on equity of 25.59% and a net margin of 7.25%. The business’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 5.72 earnings per share for the current year.
A number of brokerages have issued reports on SITE. UBS Group raised SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $165.00 in a report on Monday, March 28th. They noted that the move was a valuation call. Robert W. Baird lowered their price target on shares of SiteOne Landscape Supply from $232.00 to $171.00 in a report on Thursday, May 5th. William Blair reaffirmed an “outperform” rating on shares of SiteOne Landscape Supply in a report on Friday, March 11th. StockNews.com began coverage on shares of SiteOne Landscape Supply in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Loop Capital cut their price target on SiteOne Landscape Supply from $190.00 to $170.00 and set a “hold” rating for the company in a research note on Thursday, April 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $178.86.
In other news, CEO Doug Black sold 17,431 shares of the company’s stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $149.12, for a total transaction of $2,599,310.72. Following the completion of the sale, the chief executive officer now owns 468,918 shares of the company’s stock, valued at $69,925,052.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.
SiteOne Landscape Supply Profile (Get Rating)
SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 135,000 stock keeping units, including irrigation supplies, which comprise controllers, valves, sprinkler heads, and irrigation pipes; 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; 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.
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