The Manufacturers Life Insurance Company Invests $1.51 Million in SiteOne Landscape Supply, Inc. $SITE

The Manufacturers Life Insurance Company bought a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) in the second quarter, Holdings Channel reports. The institutional investor bought 13,222 shares of the industrial products company’s stock, valued at approximately $1,513,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Man Group plc grew its position 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 acquiring an additional 86 shares during 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 purchasing an additional 88 shares during the last quarter. Parallel Advisors LLC boosted its stake in SiteOne Landscape Supply by 15.6% in the first quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 88 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in SiteOne Landscape Supply by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company’s stock worth $2,109,000 after purchasing an additional 89 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares during the last quarter.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black bought 8,000 shares of SiteOne Landscape Supply stock in a transaction dated Tuesday, August 4th. The shares were bought at an average price of $102.03 per share, with a total value of $816,240.00. Following the purchase, the chief executive officer owned 8,000 shares of the company’s stock, valued at $816,240. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. KeyCorp cut their price target on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Stifel Nicolaus reissued a “hold” rating and set a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. Weiss Ratings upgraded shares of SiteOne Landscape Supply from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. UBS Group dropped their target price on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Truist Financial reduced their target price on shares of 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. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $135.27.

SiteOne Landscape Supply Trading Down 0.0%

SITE stock opened at $98.26 on Friday. 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 company has a market cap of $4.29 billion, a P/E ratio of 26.92, a PEG ratio of 1.42 and a beta of 1.34. The business has a fifty day moving average of $101.81 and a 200-day moving average of $118.03.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.22). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate 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 was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.86 EPS. As a group, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current year.

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.