NewEdge Wealth LLC Grows Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

NewEdge Wealth LLC raised its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,931 shares of the industrial products company’s stock after buying an additional 622 shares during the quarter. NewEdge Wealth LLC’s holdings in SiteOne Landscape Supply were worth $2,914,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of SiteOne Landscape Supply by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,831,878 shares of the industrial products company’s stock valued at $798,210,000 after purchasing an additional 232,491 shares during the period. Vanguard Group Inc. grew its holdings in shares of SiteOne Landscape Supply by 0.7% in the third quarter. Vanguard Group Inc. now owns 3,998,194 shares of the industrial products company’s stock valued at $416,373,000 after purchasing an additional 29,355 shares during the period. BlackRock Inc. boosted its stake in SiteOne Landscape Supply by 17.4% during the first quarter. BlackRock Inc. now owns 3,394,331 shares of the industrial products company’s stock worth $548,828,000 after buying an additional 503,490 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in SiteOne Landscape Supply by 4.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,174,204 shares of the industrial products company’s stock worth $137,758,000 after buying an additional 50,636 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in SiteOne Landscape Supply by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,104,494 shares of the industrial products company’s stock worth $179,480,000 after buying an additional 6,620 shares during the period.

SiteOne Landscape Supply Stock Down 2.6 %

Shares of SITE opened at $169.26 on Friday. The company’s 50-day simple moving average is $170.35 and its 200-day simple moving average is $156.79. The stock has a market capitalization of $7.65 billion, a PE ratio of 44.78 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 1 year low of $116.81 and a 1 year high of $188.01. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.43.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.07. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The firm had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $942.21 million. During the same quarter last year, the company earned ($0.02) earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Analysts forecast that SiteOne Landscape Supply, Inc. will post 4.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SITE has been the subject of several research analyst reports. Robert W. Baird increased their target price on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Truist Financial increased their target price on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Stifel Nicolaus lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and increased their target price for the stock from $150.00 to $167.00 in a research note on Tuesday, December 19th. Royal Bank of Canada increased their target price on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Finally, Barclays increased their price target on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and an average price target of $172.88.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $153.29, for a total transaction of $1,532,900.00. Following the sale, the chief executive officer now owns 580,886 shares of the company’s stock, valued at $89,044,014.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the sale, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $153.29, for a total transaction of $1,532,900.00. Following the transaction, the chief executive officer now owns 580,886 shares in the company, valued at $89,044,014.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,000 shares of company stock valued at $3,836,400. 2.70% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Company 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.