Malaga Cove Capital LLC Has $708,000 Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Malaga Cove Capital LLC grew its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 48.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,829 shares of the industrial products company’s stock after purchasing an additional 1,913 shares during the period. Malaga Cove Capital LLC’s holdings in SiteOne Landscape Supply were worth $708,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Capital Group California Inc. raised its position in SiteOne Landscape Supply by 3.2% in the 4th quarter. Legacy Capital Group California Inc. now owns 2,886 shares of the industrial products company’s stock valued at $469,000 after buying an additional 90 shares during the last quarter. MJP Associates Inc. ADV grew its position in SiteOne Landscape Supply by 5.7% in the 2nd quarter. MJP Associates Inc. ADV now owns 1,707 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 92 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in SiteOne Landscape Supply by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,018 shares of the industrial products company’s stock valued at $245,000 after buying an additional 98 shares during the last quarter. Equitable Trust Co. increased its stake in SiteOne Landscape Supply by 3.0% in the 2nd quarter. Equitable Trust Co. now owns 3,558 shares of the industrial products company’s stock valued at $432,000 after buying an additional 103 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of SiteOne Landscape Supply by 7.9% during the first quarter. iA Global Asset Management Inc. now owns 1,741 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 127 shares during the last quarter.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $134.30 on Tuesday. The stock has a market cap of $6.06 billion, a P/E ratio of 38.93 and a beta of 1.53. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $134.73 and its two-hundred day moving average price is $149.37. SiteOne Landscape Supply, Inc. has a twelve month low of $114.60 and a twelve month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.13. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. SiteOne Landscape Supply’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.71 earnings per share. As a group, equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Fred M. Diaz sold 878 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $129.04, for a total value of $113,297.12. Following the completion of the transaction, the director now directly owns 11,267 shares in the company, valued at approximately $1,453,893.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SITE. Stifel Nicolaus cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a research note on Thursday, August 1st. Loop Capital cut their target price on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research report on Thursday, June 13th. StockNews.com lowered shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Barclays lowered their target price on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Finally, Robert W. Baird cut their price target on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average price target of $144.33.

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.