Pier Capital LLC Has $5.88 Million Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Pier Capital LLC lifted its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 75.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,958 shares of the industrial products company’s stock after buying an additional 16,710 shares during the period. Pier Capital LLC owned about 0.09% of SiteOne Landscape Supply worth $5,879,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wasatch Advisors LP increased its holdings in shares of SiteOne Landscape Supply by 11.4% in the third quarter. Wasatch Advisors LP now owns 1,577,651 shares of the industrial products company’s stock worth $238,083,000 after acquiring an additional 161,846 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of SiteOne Landscape Supply by 49.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock valued at $58,226,000 after purchasing an additional 158,350 shares during the period. Bamco Inc. NY increased its stake in SiteOne Landscape Supply by 8.9% during the 3rd quarter. Bamco Inc. NY now owns 1,580,342 shares of the industrial products company’s stock worth $238,489,000 after purchasing an additional 129,252 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in SiteOne Landscape Supply by 130.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock worth $24,065,000 after buying an additional 112,362 shares during the period. Finally, American Century Companies Inc. lifted its stake in SiteOne Landscape Supply by 44.3% in the second quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company’s stock valued at $43,717,000 after buying an additional 110,589 shares in the last quarter.

Insiders Place Their Bets

In related news, EVP Joseph Ketter sold 6,500 shares of SiteOne Landscape Supply stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the transaction, the executive vice president now owns 12,942 shares in the company, valued at approximately $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SITE has been the subject of several research reports. Barclays increased their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their target price for the stock from $145.00 to $175.00 in a report on Friday. StockNews.com raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird upped their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group assumed coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $152.80.

SiteOne Landscape Supply Stock Performance

SITE opened at $151.05 on Friday. The business’s 50-day simple moving average is $146.34 and its 200 day simple moving average is $140.19. SiteOne Landscape Supply, Inc. has a 52-week low of $114.60 and a 52-week high of $188.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The firm has a market capitalization of $6.82 billion, a PE ratio of 48.88 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current fiscal year.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.