Royal Bank of Canada Has $24.97 Million Stake in SiteOne Landscape Supply, Inc. $SITE

Royal Bank of Canada raised its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 24.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 187,574 shares of the industrial products company’s stock after buying an additional 36,581 shares during the quarter. Royal Bank of Canada owned about 0.42% of SiteOne Landscape Supply worth $24,969,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of SiteOne Landscape Supply by 5,682.4% in the 1st quarter. Empowered Funds LLC now owns 19,371 shares of the industrial products company’s stock valued at $2,578,000 after acquiring an additional 19,036 shares during the period. The Manufacturers Life Insurance Company grew its holdings in SiteOne Landscape Supply by 13.6% during the first quarter. The Manufacturers Life Insurance Company now owns 10,354 shares of the industrial products company’s stock valued at $1,378,000 after purchasing an additional 1,243 shares during the period. Quantinno Capital Management LP grew its holdings in SiteOne Landscape Supply by 79.4% during the first quarter. Quantinno Capital Management LP now owns 37,359 shares of the industrial products company’s stock valued at $4,973,000 after purchasing an additional 16,539 shares during the period. Lazard Asset Management LLC bought a new stake in SiteOne Landscape Supply in the first quarter valued at approximately $2,005,000. Finally, Family Manage LLC bought a new stake in SiteOne Landscape Supply in the first quarter valued at approximately $224,000.

SiteOne Landscape Supply Stock Up 1.7%

SiteOne Landscape Supply stock opened at $101.00 on Wednesday. The company has a 50 day moving average of $106.07 and a 200-day moving average of $125.91. The company has a quick ratio of 1.01, a current ratio of 2.30 and a debt-to-equity ratio of 0.36. SiteOne Landscape Supply, Inc. has a twelve month low of $90.07 and a twelve month high of $168.56. The stock has a market capitalization of $4.41 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data 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). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.86 earnings per share. On average, equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SITE shares. KeyCorp reduced their price target on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada lowered their price objective on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. UBS Group dropped their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Thursday, April 30th. Finally, Barclays decreased their target price 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. Seven investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $135.27.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $115.13, for a total value of $64,818.19. Following the sale, the director owned 11,829 shares of the company’s stock, valued at $1,361,872.77. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

About SiteOne Landscape Supply

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.