Edgestream Partners L.P. Acquires Shares of 13,197 SiteOne Landscape Supply, Inc. (NYSE:SITE)

Edgestream Partners L.P. acquired a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,197 shares of the industrial products company’s stock, valued at approximately $2,304,000.

A number of other institutional investors also recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of SiteOne Landscape Supply by 5.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 34,701 shares of the industrial products company’s stock worth $5,639,000 after acquiring an additional 1,922 shares during the period. WCM Investment Management LLC increased its stake in shares of SiteOne Landscape Supply by 33.4% in the 4th quarter. WCM Investment Management LLC now owns 33,429 shares of the industrial products company’s stock valued at $5,483,000 after purchasing an additional 8,379 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of SiteOne Landscape Supply by 10.8% during the 4th quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company’s stock worth $37,251,000 after buying an additional 22,400 shares in the last quarter. Picton Mahoney Asset Management lifted its position in shares of SiteOne Landscape Supply by 3,279.9% during the 1st quarter. Picton Mahoney Asset Management now owns 24,842 shares of the industrial products company’s stock worth $4,337,000 after buying an additional 24,107 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in SiteOne Landscape Supply by 54.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 22,151 shares of the industrial products company’s stock valued at $3,866,000 after buying an additional 7,829 shares in the last quarter.

Analyst Ratings Changes

SITE has been the subject of a number of research reports. Truist Financial dropped their target price on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Robert W. Baird cut their target price on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. UBS Group dropped their target price on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Stifel Nicolaus reduced their price target on SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Finally, Jefferies Financial Group lowered their price objective on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $147.11.

SiteOne Landscape Supply Trading Up 1.0 %

SiteOne Landscape Supply stock traded up $1.34 during trading hours on Tuesday, reaching $140.52. 17,759 shares of the company’s stock were exchanged, compared to its average volume of 365,951. The firm’s 50 day simple moving average is $136.11 and its 200 day simple moving average is $154.47. SiteOne Landscape Supply, Inc. has a twelve month low of $114.60 and a twelve month high of $188.01. The company has a quick ratio of 0.96, a current ratio of 2.36 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.35 billion, a PE ratio of 40.34 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). The business had revenue of $904.80 million for the quarter, compared to the consensus estimate of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS. Research analysts predict that SiteOne Landscape Supply, Inc. will post 3.65 earnings per share for the current year.

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.