SiteOne Landscape Supply, Inc. $SITE Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 85,900 shares of the industrial products company’s stock after selling 1,500 shares during the period. Swiss National Bank’s holdings in SiteOne Landscape Supply were worth $10,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its position in SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 90 shares during the period. Brooklyn Investment Group purchased a new stake in shares of SiteOne Landscape Supply in the first quarter worth about $32,000. Eastern Bank acquired a new stake in SiteOne Landscape Supply during the first quarter worth about $38,000. NewEdge Advisors LLC raised its position in SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 107 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in SiteOne Landscape Supply by 49.5% in the second quarter. Parallel Advisors LLC now owns 562 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 186 shares during the period.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $134.28 on Friday. The firm has a 50-day simple moving average of $126.41 and a 200-day simple moving average of $128.97. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 2.20 and a beta of 1.60. The company has a quick ratio of 1.14, a current ratio of 2.49 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $156.93.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly 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. SiteOne Landscape Supply had a net margin of 2.98% and a return on equity of 8.62%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $0.97 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SITE has been the topic of a number of analyst reports. Stifel Nicolaus set a $140.00 price objective on shares of SiteOne Landscape Supply in a research note on Monday, November 17th. Loop Capital upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price objective for the stock from $150.00 to $160.00 in a research report on Friday, September 19th. William Blair reiterated a “market perform” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 8th. Finally, Barclays increased their price objective on shares of SiteOne Landscape Supply from $106.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and an average target price of $152.10.

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.