The Manufacturers Life Insurance Company Takes Position in SiteOne Landscape Supply, Inc. $SITE

The Manufacturers Life Insurance Company acquired a new position in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,222 shares of the industrial products company’s stock, valued at approximately $1,513,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SITE. Bamco Inc. NY increased its holdings in shares of SiteOne Landscape Supply by 3.1% during the 4th quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after purchasing an additional 61,490 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of SiteOne Landscape Supply during the second quarter valued at about $3,059,000. Pier Capital LLC bought a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at about $3,787,000. Summit Creek Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 22.1% in the fourth quarter. Summit Creek Advisors LLC now owns 73,442 shares of the industrial products company’s stock valued at $9,148,000 after buying an additional 13,312 shares during the period. Finally, Norges Bank acquired a new stake in SiteOne Landscape Supply during the fourth quarter worth about $18,925,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on SITE shares. UBS Group cut their price target on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised SiteOne Landscape Supply from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Royal Bank Of Canada lowered their price objective on SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. Finally, Truist Financial reduced their target price on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.27.

SiteOne Landscape Supply Stock Down 0.0%

NYSE SITE opened at $98.26 on Friday. SiteOne Landscape Supply, Inc. has a 1-year low of $90.07 and a 1-year high of $168.56. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.42 and a beta of 1.34. The stock’s 50 day moving average is $101.81 and its two-hundred day moving average is $118.03. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36.

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

Insider Transactions at SiteOne Landscape Supply

In related news, CEO Doug Black acquired 8,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was bought at an average cost of $102.03 per share, with a total value of $816,240.00. Following the completion of the acquisition, the chief executive officer owned 8,000 shares in the company, valued at $816,240. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

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.