NewEdge Wealth LLC Takes $1.93 Million Position in SiteOne Landscape Supply, Inc. $SITE

NewEdge Wealth LLC acquired a new position in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 16,880 shares of the industrial products company’s stock, valued at approximately $1,931,000.

Several other large investors have also recently modified their holdings of SITE. Basecamp Wealth Advisors LLC boosted its holdings in SiteOne Landscape Supply by 219.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 127 shares during the period. Whittier Trust Co. increased its stake in SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 88 shares during the period. Rothschild Investment LLC increased its stake in SiteOne Landscape Supply by 1,521.4% in the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 213 shares during the period. IFP Advisors Inc lifted its position in SiteOne Landscape Supply by 106.8% in the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in SiteOne Landscape Supply in the fourth quarter valued at approximately $42,000.

SiteOne Landscape Supply Price Performance

Shares of SITE stock opened at $95.64 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. SiteOne Landscape Supply, Inc. has a fifty-two week low of $90.07 and a fifty-two week high of $168.56. The firm has a market cap of $4.18 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.42 and a beta of 1.35. The business’s 50 day moving average price is $104.17 and its 200-day moving average price is $121.87.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $2.86 EPS. SiteOne Landscape Supply’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total transaction of $64,818.19. Following the transaction, the director directly owned 11,829 shares of the company’s stock, valued at approximately $1,361,872.77. The trade was a 4.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Doug Black acquired 8,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was bought at an average price of $102.03 per share, with a total value of $816,240.00. Following the completion of the acquisition, the chief executive officer directly owned 8,000 shares in the company, valued at approximately $816,240. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays dropped their price objective on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Weiss Ratings lowered shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Stifel Nicolaus reissued a “hold” rating and set a $100.00 price target (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada cut their price target on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $135.27.

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.