Wells Fargo & Company MN increased its stake in SiteOne Landscape Supply Inc (NYSE:SITE) by 10.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,120,650 shares of the industrial products company’s stock after buying an additional 197,311 shares during the quarter. Wells Fargo & Company MN owned about 5.23% of SiteOne Landscape Supply worth $159,770,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of SITE. Victory Capital Management Inc. acquired a new stake in shares of SiteOne Landscape Supply in the second quarter valued at about $71,949,000. BlackRock Inc. grew its stake in SiteOne Landscape Supply by 29.0% during the 2nd quarter. BlackRock Inc. now owns 2,882,470 shares of the industrial products company’s stock valued at $242,041,000 after purchasing an additional 648,424 shares in the last quarter. KAMES CAPITAL plc acquired a new stake in SiteOne Landscape Supply during the 3rd quarter valued at approximately $18,672,000. Redwood Investments LLC acquired a new stake in SiteOne Landscape Supply during the 2nd quarter valued at approximately $16,482,000. Finally, Bank of America Corp DE grew its stake in SiteOne Landscape Supply by 278.6% during the 2nd quarter. Bank of America Corp DE now owns 201,306 shares of the industrial products company’s stock valued at $16,905,000 after purchasing an additional 148,135 shares in the last quarter.
Shares of NYSE SITE opened at $62.91 on Friday. SiteOne Landscape Supply Inc has a fifty-two week low of $58.70 and a fifty-two week high of $95.49. The company has a quick ratio of 1.29, a current ratio of 2.72 and a debt-to-equity ratio of 1.90. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 51.99 and a beta of 1.52.
SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, October 31st. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.02). SiteOne Landscape Supply had a return on equity of 31.11% and a net margin of 3.90%. The firm had revenue of $578.50 million for the quarter, compared to the consensus estimate of $590.23 million. During the same period in the prior year, the business earned $0.41 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts expect that SiteOne Landscape Supply Inc will post 1.97 earnings per share for the current fiscal year.
In other SiteOne Landscape Supply news, EVP L Briley Brisendine, Jr. sold 1,600 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $90.65, for a total transaction of $145,040.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Doug Black sold 12,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $90.01, for a total value of $1,080,120.00. Following the transaction, the chief executive officer now directly owns 398,228 shares in the company, valued at approximately $35,844,502.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,700 shares of company stock worth $7,310,225. 4.40% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on SITE. Zacks Investment Research upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Wednesday, July 18th. UBS Group raised their price objective on SiteOne Landscape Supply from $76.00 to $80.00 and gave the company a “sell” rating in a research note on Thursday, August 30th. Barclays raised their price objective on SiteOne Landscape Supply from $67.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. TheStreet upgraded SiteOne Landscape Supply from a “c” rating to a “b-” rating in a research note on Thursday, August 9th. Finally, Deutsche Bank lowered their price objective on SiteOne Landscape Supply from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $80.33.
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SiteOne Landscape Supply Profile
SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.
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