Edgestream Partners L.P. Takes $1.72 Million Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Edgestream Partners L.P. bought a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the third quarter, Holdings Channel.com reports. The institutional investor bought 11,401 shares of the industrial products company’s stock, valued at approximately $1,721,000.

A number of other large investors have also recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in shares of SiteOne Landscape Supply in the first quarter worth about $216,000. Cetera Investment Advisers grew its stake in shares of SiteOne Landscape Supply by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 12,281 shares of the industrial products company’s stock worth $2,144,000 after purchasing an additional 7,244 shares during the period. Cetera Advisors LLC purchased a new position in shares of SiteOne Landscape Supply during the 1st quarter valued at approximately $708,000. Park Avenue Securities LLC lifted its stake in shares of SiteOne Landscape Supply by 8.5% in the 2nd quarter. Park Avenue Securities LLC now owns 7,127 shares of the industrial products company’s stock valued at $865,000 after purchasing an additional 561 shares during the period. Finally, OLD National Bancorp IN purchased a new stake in SiteOne Landscape Supply during the second quarter worth $267,000.

SiteOne Landscape Supply Stock Down 0.3 %

Shares of SITE opened at $151.07 on Wednesday. The stock has a 50 day moving average price of $146.44 and a 200 day moving average price of $140.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 48.89 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a one year low of $114.60 and a one year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. SiteOne Landscape Supply’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. Equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on SITE shares. Barclays upped their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Robert W. Baird upped their price target on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective on the stock. Finally, StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $147.80.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. This represents a 33.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is 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 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.