Virginia Retirement Systems ET AL cut its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Rating) by 42.0% in the first quarter, HoldingsChannel.com reports. The fund owned 2,900 shares of the industrial products company’s stock after selling 2,100 shares during the period. Virginia Retirement Systems ET AL’s holdings in SiteOne Landscape Supply were worth $469,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of SiteOne Landscape Supply during the fourth quarter valued at approximately $192,495,000. Massachusetts Financial Services Co. MA acquired a new position in SiteOne Landscape Supply during the fourth quarter worth $71,647,000. Goldman Sachs Group Inc. raised its holdings in shares of SiteOne Landscape Supply by 82.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,599 shares of the industrial products company’s stock worth $142,848,000 after acquiring an additional 265,954 shares during the period. Millennium Management LLC grew its holdings 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 valued at $76,473,000 after purchasing an additional 161,452 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of SiteOne Landscape Supply by 95.7% during the 4th quarter. Renaissance Technologies LLC now owns 193,900 shares of the industrial products company’s stock worth $46,978,000 after buying an additional 94,800 shares during the last quarter.
In related news, CEO Doug Black sold 17,431 shares of the 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 in the company, valued at approximately $69,925,052.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.
SiteOne Landscape Supply stock opened at $124.22 on Friday. The company has a current ratio of 2.32, a quick ratio of 0.89 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $126.05 and a 200-day simple moving average of $160.29. The stock has a market cap of $5.58 billion, a P/E ratio of 21.64 and a beta of 1.33. SiteOne Landscape Supply, Inc. has a 12-month low of $108.77 and a 12-month high of $260.00.
SiteOne Landscape Supply (NYSE:SITE – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.54. The company had revenue of $805.30 million during the quarter, compared to the consensus estimate of $742.01 million. SiteOne Landscape Supply had a return on equity of 25.59% and a net margin of 7.25%. SiteOne Landscape Supply’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. As a group, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 5.72 earnings per share for the current fiscal year.
A number of equities analysts recently commented on SITE shares. UBS Group upgraded SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and lowered their target price 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. TheStreet downgraded shares of SiteOne Landscape Supply from a “b-” rating to a “c+” rating in a research note on Wednesday, May 18th. StockNews.com started coverage on shares of SiteOne Landscape Supply in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays cut their price objective on SiteOne Landscape Supply from $200.00 to $191.00 in a research report on Thursday, March 31st. Finally, Royal Bank of Canada upgraded SiteOne Landscape Supply from an “underperform” rating to a “sector perform” rating and decreased their target price for the company from $128.00 to $118.00 in a report on Wednesday, June 22nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.86.
SiteOne Landscape Supply Company 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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