JPMorgan Chase & Co. lifted its position in SiteOne Landscape Supply, Inc. (NYSE:SITE – Free Report) by 13.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 396,776 shares of the industrial products company’s stock after purchasing an additional 48,053 shares during the quarter. JPMorgan Chase & Co. owned 0.88% of SiteOne Landscape Supply worth $66,404,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SITE. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of SiteOne Landscape Supply by 15.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,436 shares of the industrial products company’s stock worth $717,000 after purchasing an additional 593 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in SiteOne Landscape Supply by 186.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,525 shares of the industrial products company’s stock valued at $408,000 after acquiring an additional 1,643 shares during the period. Citigroup Inc. boosted its holdings in SiteOne Landscape Supply by 14.8% during the 1st quarter. Citigroup Inc. now owns 10,831 shares of the industrial products company’s stock valued at $1,751,000 after acquiring an additional 1,398 shares during the period. Bank of Montreal Can purchased a new stake in SiteOne Landscape Supply during the 1st quarter valued at about $410,000. Finally, MetLife Investment Management LLC purchased a new stake in SiteOne Landscape Supply during the 1st quarter valued at about $309,000.
Insider Transactions at SiteOne Landscape Supply
In related news, CEO Doug Black sold 7,960 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $145.12, for a total transaction of $1,155,155.20. Following the completion of the transaction, the chief executive officer now owns 568,886 shares of the company’s stock, valued at approximately $82,556,736.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.
SiteOne Landscape Supply Stock Up 4.6 %
Shares of NYSE:SITE opened at $147.26 on Friday. SiteOne Landscape Supply, Inc. has a 52-week low of $113.25 and a 52-week high of $176.16. The firm has a market capitalization of $6.65 billion, a P/E ratio of 38.35 and a beta of 1.45. The stock has a 50 day moving average price of $143.09 and a 200-day moving average price of $153.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.10 and a current ratio of 2.40.
SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.25). SiteOne Landscape Supply had a return on equity of 12.71% and a net margin of 4.16%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company posted $1.60 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.68 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on SITE shares. Barclays dropped their target price on SiteOne Landscape Supply from $144.00 to $139.00 and set an “underweight” rating for the company in a report on Thursday, October 12th. StockNews.com started coverage on SiteOne Landscape Supply in a report on Thursday, October 5th. They set a “hold” rating for the company. Truist Financial dropped their target price on SiteOne Landscape Supply from $187.00 to $158.00 and set a “buy” rating for the company in a report on Friday, November 3rd. UBS Group upgraded SiteOne Landscape Supply from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $200.00 in a report on Tuesday, September 26th. Finally, TheStreet cut SiteOne Landscape Supply from a “b-” rating to a “c” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $163.10.
Get Our Latest Stock Report on SITE
SiteOne Landscape Supply Company 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 a selection of approximately 155,000 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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