SiteOne Landscape Supply, Inc. (NYSE:SITE) Position Increased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,950 shares of the industrial products company’s stock after purchasing an additional 165 shares during the period. Verdence Capital Advisors LLC’s holdings in SiteOne Landscape Supply were worth $317,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SITE. Vaughan Nelson Investment Management L.P. increased its position in SiteOne Landscape Supply by 100.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock valued at $41,587,000 after acquiring an additional 128,076 shares during the period. Jennison Associates LLC acquired a new stake in SiteOne Landscape Supply in the 3rd quarter valued at approximately $17,835,000. International Assets Investment Management LLC increased its position in SiteOne Landscape Supply by 14,782.5% in the 4th quarter. International Assets Investment Management LLC now owns 90,188 shares of the industrial products company’s stock valued at $14,656,000 after acquiring an additional 89,582 shares during the period. Comerica Bank acquired a new stake in SiteOne Landscape Supply in the 3rd quarter valued at approximately $14,624,000. Finally, Allspring Global Investments Holdings LLC increased its position in SiteOne Landscape Supply by 14.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 586,629 shares of the industrial products company’s stock valued at $95,327,000 after acquiring an additional 75,698 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SITE shares. Royal Bank of Canada raised their target price on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Barclays lifted their price target on SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research report on Thursday, February 15th. Loop Capital cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Robert W. Baird lifted their price target on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Truist Financial lifted their price target on SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average target price of $172.88.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE opened at $162.55 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 43.00 and a beta of 1.54. The stock’s fifty day simple moving average is $170.82 and its 200 day simple moving average is $156.74. SiteOne Landscape Supply, Inc. has a 52-week low of $116.81 and a 52-week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $942.21 million. SiteOne Landscape Supply had a return on equity of 12.13% and a net margin of 4.03%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. As a group, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $93,151,899.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO John T. Guthrie sold 3,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the sale, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock worth $3,924,500 in the last three months. 2.60% of the stock is currently owned by insiders.

About SiteOne Landscape Supply

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.