Jackson Square Partners LLC Lowers Stock Position in SiteOne Landscape Supply, Inc. $SITE

Jackson Square Partners LLC trimmed its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 83.3% during the second quarter, Holdings Channel.com reports. The fund owned 29,448 shares of the industrial products company’s stock after selling 147,307 shares during the period. Jackson Square Partners LLC’s holdings in SiteOne Landscape Supply were worth $3,561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of SiteOne Landscape Supply by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company’s stock valued at $738,309,000 after buying an additional 660,081 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in SiteOne Landscape Supply by 31.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company’s stock valued at $254,143,000 after acquiring an additional 494,737 shares during the period. Invesco Ltd. grew its position in SiteOne Landscape Supply by 108.8% in the 1st quarter. Invesco Ltd. now owns 309,504 shares of the industrial products company’s stock valued at $37,586,000 after acquiring an additional 161,263 shares in the last quarter. Ameriprise Financial Inc. increased its stake in SiteOne Landscape Supply by 21.3% during the first quarter. Ameriprise Financial Inc. now owns 773,358 shares of the industrial products company’s stock worth $93,913,000 after purchasing an additional 135,949 shares during the period. Finally, Nuveen LLC purchased a new stake in SiteOne Landscape Supply during the first quarter worth about $16,317,000.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 8th. Wall Street Zen upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada lifted their price objective on SiteOne Landscape Supply from $143.00 to $151.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Loop Capital raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $150.00 to $160.00 in a research report on Friday, September 19th. Finally, William Blair reaffirmed a “market perform” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $150.70.

SiteOne Landscape Supply Trading Up 0.6%

SITE opened at $122.87 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.14 and a current ratio of 2.49. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74. The company has a market cap of $5.47 billion, a P/E ratio of 39.89, a PEG ratio of 1.98 and a beta of 1.60. The business’s 50-day simple moving average is $130.32 and its 200-day simple moving average is $127.79.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.09. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. As a group, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

SiteOne Landscape Supply 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.