NBC Securities Inc. Raises Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

NBC Securities Inc. increased its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 114,200.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,429 shares of the industrial products company’s stock after acquiring an additional 3,426 shares during the quarter. NBC Securities Inc.’s holdings in SiteOne Landscape Supply were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SITE. Barclays PLC increased its holdings in SiteOne Landscape Supply by 71.2% in the 3rd quarter. Barclays PLC now owns 48,398 shares of the industrial products company’s stock worth $7,304,000 after acquiring an additional 20,134 shares in the last quarter. WCM Investment Management LLC boosted its stake in SiteOne Landscape Supply by 593.6% during the 4th quarter. WCM Investment Management LLC now owns 131,317 shares of the industrial products company’s stock worth $17,242,000 after purchasing an additional 112,385 shares during the last quarter. Birch Hill Investment Advisors LLC acquired a new stake in SiteOne Landscape Supply during the 4th quarter worth $325,000. Buckhead Capital Management LLC boosted its stake in SiteOne Landscape Supply by 8.5% during the 4th quarter. Buckhead Capital Management LLC now owns 2,230 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 174 shares during the last quarter. Finally, Empire Life Investments Inc. boosted its stake in SiteOne Landscape Supply by 11.6% during the 4th quarter. Empire Life Investments Inc. now owns 49,749 shares of the industrial products company’s stock worth $6,555,000 after purchasing an additional 5,187 shares during the last quarter.

SiteOne Landscape Supply Trading Up 3.0%

NYSE SITE opened at $123.62 on Friday. The firm’s 50-day moving average is $116.79 and its two-hundred day moving average is $129.57. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $160.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The stock has a market capitalization of $5.54 billion, a P/E ratio of 45.96 and a beta of 1.62.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. The company had revenue of $939.40 million during the quarter, compared to analyst estimates of $933.90 million. During the same period in the previous year, the company earned ($0.43) EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SITE. Truist Financial lowered their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Barclays lowered their target price on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada lowered their target price on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, UBS Group lowered their price target on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $145.70.

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.