NewEdge Wealth LLC Purchases Shares of 16,880 SiteOne Landscape Supply, Inc. $SITE

NewEdge Wealth LLC bought a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,880 shares of the industrial products company’s stock, valued at approximately $1,931,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC raised its position in SiteOne Landscape Supply by 45.9% in the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock valued at $9,126,000 after buying an additional 23,657 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of 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 buying an additional 107 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of SiteOne Landscape Supply by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock worth $25,907,000 after buying an additional 11,574 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of SiteOne Landscape Supply by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock worth $20,679,000 after buying an additional 16,378 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter worth approximately $6,797,000.

SiteOne Landscape Supply Trading Down 2.5%

NYSE SITE opened at $95.64 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. The stock’s 50-day simple moving average is $104.17 and its two-hundred day simple moving average is $121.87. 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 capitalization of $4.18 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.42 and a beta of 1.35.

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

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have recently issued reports on SITE. 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 report on Thursday, July 30th. KeyCorp decreased their price objective 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. Robert W. Baird lowered their price target on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada lowered their target price on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating on the stock 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.27.

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.