Corient Private Wealth LP Invests $3.50 Million in SiteOne Landscape Supply, Inc. $SITE

Corient Private Wealth LP acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) in the second quarter, Holdings Channel.com reports. The fund acquired 30,610 shares of the industrial products company’s stock, valued at approximately $3,502,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SITE. Bamco Inc. NY lifted its stake in SiteOne Landscape Supply by 3.1% during the 4th quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after acquiring an additional 61,490 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in SiteOne Landscape Supply in the 2nd quarter valued at about $3,059,000. Pier Capital LLC purchased a new stake in SiteOne Landscape Supply during the fourth quarter worth about $3,787,000. Summit Creek Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 22.1% in the fourth quarter. Summit Creek Advisors LLC now owns 73,442 shares of the industrial products company’s stock valued at $9,148,000 after purchasing an additional 13,312 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of SiteOne Landscape Supply in the fourth quarter valued at approximately $18,925,000.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $97.37 on Wednesday. The company has a fifty day moving average of $102.41 and a two-hundred day moving average of $118.87. The company has a market capitalization of $4.25 billion, a PE ratio of 26.68, a P/E/G ratio of 1.43 and a beta of 1.35. SiteOne Landscape Supply, Inc. has a 1 year low of $90.07 and a 1 year high of $168.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results 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). SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the firm earned $2.86 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on SITE. Stifel Nicolaus reiterated a “hold” rating and set a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. Royal Bank Of Canada dropped their price target on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Truist Financial cut their price objective on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Barclays reduced their price objective on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Finally, Robert W. Baird lowered their price objective on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, SiteOne Landscape Supply has a consensus rating of “Hold” and a consensus target price of $135.27.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black purchased 8,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the transaction, the chief executive officer directly owned 8,000 shares in the company, valued at $816,240. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

SiteOne Landscape Supply Company 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.