Fmr LLC Increases Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Fmr LLC boosted its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 52.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,336 shares of the industrial products company’s stock after acquiring an additional 1,846 shares during the period. Fmr LLC’s holdings in SiteOne Landscape Supply were worth $805,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Algert Global LLC grew its holdings in SiteOne Landscape Supply by 375.4% during the third quarter. Algert Global LLC now owns 29,506 shares of the industrial products company’s stock worth $4,453,000 after acquiring an additional 23,300 shares during the period. The Manufacturers Life Insurance Company raised its stake in SiteOne Landscape Supply by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,026 shares of the industrial products company’s stock valued at $1,217,000 after purchasing an additional 447 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of SiteOne Landscape Supply in the second quarter valued at approximately $449,000. Canada Pension Plan Investment Board purchased a new position in shares of SiteOne Landscape Supply during the 2nd quarter worth $7,540,000. Finally, Envestnet Asset Management Inc. lifted its position in SiteOne Landscape Supply by 8.1% during the second quarter. Envestnet Asset Management Inc. now owns 339,271 shares of the industrial products company’s stock worth $41,191,000 after buying an additional 25,391 shares during the period.

SiteOne Landscape Supply Trading Down 0.5 %

SiteOne Landscape Supply stock opened at $140.15 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $146.09 and a two-hundred day moving average price of $139.79. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 45.52 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 52-week low of $114.60 and a 52-week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $1.25 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 2.94 earnings per share for the current year.

Insider Activity at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the sale, the executive vice president now owns 12,942 shares in the company, valued at $1,840,352.40. The trade was a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SITE shares. StockNews.com raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price target for the company. Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $175.00 in a report on Friday, December 6th. Robert W. Baird upped their target price on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays upped their price target on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $156.44.

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 irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; 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 and cultivars; 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.