Truist Financial Corp lifted its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE – Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,544 shares of the industrial products company’s stock after buying an additional 1,788 shares during the quarter. Truist Financial Corp owned approximately 0.18% of SiteOne Landscape Supply worth $11,298,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of SITE. Price T Rowe Associates Inc. MD boosted its stake in shares of SiteOne Landscape Supply by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,387 shares of the industrial products company’s stock worth $656,920,000 after buying an additional 566,688 shares during the last quarter. BlackRock Inc. boosted its position in SiteOne Landscape Supply by 17.4% during the first quarter. BlackRock Inc. now owns 3,394,331 shares of the industrial products company’s stock worth $548,828,000 after purchasing an additional 503,490 shares in the last quarter. Jackson Square Partners LLC boosted its position in SiteOne Landscape Supply by 69.7% during the fourth quarter. Jackson Square Partners LLC now owns 960,849 shares of the industrial products company’s stock worth $112,727,000 after purchasing an additional 394,722 shares in the last quarter. Handelsbanken Fonder AB boosted its position in SiteOne Landscape Supply by 2,260.1% during the fourth quarter. Handelsbanken Fonder AB now owns 156,637 shares of the industrial products company’s stock worth $18,377,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Premier Fund Managers Ltd boosted its position in SiteOne Landscape Supply by 23.9% during the fourth quarter. Premier Fund Managers Ltd now owns 409,809 shares of the industrial products company’s stock worth $48,786,000 after purchasing an additional 79,009 shares in the last quarter.
SiteOne Landscape Supply Price Performance
Shares of SiteOne Landscape Supply stock opened at $161.82 on Thursday. SiteOne Landscape Supply, Inc. has a 12 month low of $97.36 and a 12 month high of $176.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.32 and a quick ratio of 1.06. The stock has a market capitalization of $7.29 billion, a P/E ratio of 38.62, a PEG ratio of 9.30 and a beta of 1.48. The business has a 50 day simple moving average of $162.00 and a two-hundred day simple moving average of $150.14.
SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.69 by $0.02. SiteOne Landscape Supply had a return on equity of 14.31% and a net margin of 4.59%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $3.07 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts predict that SiteOne Landscape Supply, Inc. will post 3.63 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Loop Capital increased their price target on SiteOne Landscape Supply from $155.00 to $175.00 in a research report on Thursday, May 4th. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their price target for the stock from $160.00 to $185.00 in a research report on Monday. Barclays downgraded SiteOne Landscape Supply from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $146.00 to $144.00 in a research report on Wednesday, May 24th. Robert W. Baird increased their price target on SiteOne Landscape Supply from $163.00 to $170.00 in a research report on Thursday, May 4th. Finally, Truist Financial increased their target price on SiteOne Landscape Supply from $177.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. One investment 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 MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $164.00.
Check Out Our Latest Stock Analysis on SITE
Insider Activity at SiteOne Landscape Supply
In related news, EVP L Briley Brisendine, Jr. sold 2,900 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $160.00, for a total value of $464,000.00. Following the completion of the sale, the executive vice president now owns 8,322 shares of the company’s stock, valued at $1,331,520. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other SiteOne Landscape Supply news, EVP L Briley Brisendine, Jr. sold 2,900 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $160.00, for a total transaction of $464,000.00. Following the completion of the sale, the executive vice president now owns 8,322 shares of the company’s stock, valued at $1,331,520. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Doug Black sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $167.33, for a total value of $1,338,640.00. Following the sale, the chief executive officer now directly owns 558,886 shares of the company’s stock, valued at approximately $93,518,394.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,928 shares of company stock valued at $1,971,715. 2.70% of the stock is currently owned by insiders.
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 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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