JPMorgan Chase & Co. Cuts Holdings in SiteOne Landscape Supply, Inc. $SITE

JPMorgan Chase & Co. decreased its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 25.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,479 shares of the industrial products company’s stock after selling 82,480 shares during the period. JPMorgan Chase & Co.’s holdings in SiteOne Landscape Supply were worth $31,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Wasatch Advisors LP increased its holdings in shares of SiteOne Landscape Supply by 11.4% in the 3rd quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company’s stock valued at $280,455,000 after acquiring an additional 222,959 shares during the period. Bamco Inc. NY lifted its stake in shares of SiteOne Landscape Supply by 1.3% during the 3rd quarter. Bamco Inc. NY now owns 1,966,876 shares of the industrial products company’s stock worth $253,334,000 after purchasing an additional 25,059 shares during the last quarter. 59 North Capital Management LP bought a new stake in SiteOne Landscape Supply during the third quarter valued at about $214,417,000. Capital World Investors boosted its position in SiteOne Landscape Supply by 3.3% during the third quarter. Capital World Investors now owns 1,016,671 shares of the industrial products company’s stock valued at $130,947,000 after purchasing an additional 32,682 shares in the last quarter. Finally, State Street Corp grew its stake in SiteOne Landscape Supply by 1.7% in the second quarter. State Street Corp now owns 777,354 shares of the industrial products company’s stock valued at $94,013,000 after purchasing an additional 12,766 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SITE. Royal Bank Of Canada boosted their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Zacks Research upgraded shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Robert W. Baird set a $190.00 price objective on shares of SiteOne Landscape Supply in a research report on Thursday, February 12th. Truist Financial boosted their price objective on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus target price of $159.44.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the sale, the executive vice president owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. The trade was a 37.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by company insiders.

SiteOne Landscape Supply Trading Down 2.3%

Shares of NYSE:SITE opened at $127.31 on Monday. The business’s 50-day moving average is $144.00 and its 200 day moving average is $134.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $168.56. The firm has a market capitalization of $5.66 billion, a P/E ratio of 37.89, a P/E/G ratio of 1.65 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned ($0.48) earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.