Sone Capital Management LLC Invests $1.14 Million in SiteOne Landscape Supply, Inc. $SITE

Sone Capital Management LLC acquired a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,919 shares of the industrial products company’s stock, valued at approximately $1,135,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Man Group plc increased its holdings in SiteOne Landscape Supply by 0.4% during the 2nd quarter. Man Group plc now owns 22,338 shares of the industrial products company’s stock worth $2,702,000 after purchasing an additional 86 shares in the last quarter. Whittier Trust Co. raised its position 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 valued at $27,000 after buying an additional 88 shares during the last quarter. Parallel Advisors LLC lifted its stake in SiteOne Landscape Supply by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 88 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in SiteOne Landscape Supply by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company’s stock valued at $2,109,000 after acquiring an additional 89 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 107 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings lowered SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. UBS Group decreased their price objective on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Robert W. Baird lowered their price objective on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. KeyCorp dropped their target price on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.27.

SiteOne Landscape Supply Trading Down 0.6%

Shares of SiteOne Landscape Supply stock opened at $95.33 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The business has a fifty day simple moving average of $103.73 and a two-hundred day simple moving average of $121.17. SiteOne Landscape Supply, Inc. has a 1 year low of $90.07 and a 1 year high of $168.56. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.39 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.22). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. SiteOne Landscape Supply’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.86 earnings per share. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current year.

Insider Activity

In related news, Director Fred M. Diaz sold 562 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $112.52, for a total value of $63,236.24. Following the transaction, the director owned 11,267 shares in the company, valued at approximately $1,267,762.84. This represents a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Doug Black purchased 8,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was bought at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the acquisition, the chief executive officer owned 8,000 shares in the company, valued at approximately $816,240. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.

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.