Bank of New York Mellon Corp Decreases Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bank of New York Mellon Corp lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Rating) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 316,040 shares of the industrial products company’s stock after selling 17,077 shares during the period. Bank of New York Mellon Corp’s holdings in SiteOne Landscape Supply were worth $32,912,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its position in SiteOne Landscape Supply by 15.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,436 shares of the industrial products company’s stock worth $717,000 after purchasing an additional 593 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of SiteOne Landscape Supply by 186.3% during the first quarter. Cetera Advisor Networks LLC now owns 2,525 shares of the industrial products company’s stock valued at $408,000 after buying an additional 1,643 shares during the last quarter. Citigroup Inc. increased its position in shares of SiteOne Landscape Supply by 14.8% in the 1st quarter. Citigroup Inc. now owns 10,831 shares of the industrial products company’s stock valued at $1,751,000 after acquiring an additional 1,398 shares during the period. Bank of Montreal Can purchased a new position in SiteOne Landscape Supply in the 1st quarter worth $410,000. Finally, MetLife Investment Management LLC acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth about $309,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on SiteOne Landscape Supply from $119.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, February 16th. Credit Suisse Group lifted their price objective on shares of SiteOne Landscape Supply from $127.00 to $157.00 and gave the company a “hold” rating in a research note on Thursday, February 16th. Truist Financial upped their price objective on shares of SiteOne Landscape Supply from $127.00 to $157.00 and gave the company a “hold” rating in a report on Thursday, February 16th. Loop Capital raised their target price on shares of SiteOne Landscape Supply from $140.00 to $155.00 and gave the stock a “hold” rating in a report on Thursday, February 16th. Finally, Stifel Nicolaus raised their target price on SiteOne Landscape Supply from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Tuesday, February 14th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $151.70.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $136.00 on Tuesday. The stock has a fifty day moving average price of $142.79 and a 200 day moving average price of $125.76. SiteOne Landscape Supply, Inc. has a 1-year low of $97.36 and a 1-year high of $184.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 0.99. The company has a market cap of $6.12 billion, a PE ratio of 25.42 and a beta of 1.44.

SiteOne Landscape Supply (NYSE:SITE – Get Rating) last issued its earnings results on Wednesday, February 15th. The industrial products company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). SiteOne Landscape Supply had a return on equity of 19.75% and a net margin of 6.11%. The company had revenue of $890.00 million for the quarter, compared to analyst estimates of $895.05 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 4.22 EPS for the current year.

About SiteOne Landscape Supply

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SiteOne Landscape Supply, Inc engages in the distribution of landscape supplies and residential. Its products include hardscapes, landscape accessories, nursery goods, outdoor lighting, and ice melt products to green industry professionals. The company was founded in 2001 and is headquartered in Roswell, GA.