Handelsbanken Fonder AB Grows Position in SiteOne Landscape Supply, Inc. $SITE

Handelsbanken Fonder AB boosted its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 52.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 370,537 shares of the industrial products company’s stock after purchasing an additional 128,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in SiteOne Landscape Supply were worth $46,154,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in SiteOne Landscape Supply during the third quarter valued at approximately $1,932,000. Comerica Bank lifted its position in SiteOne Landscape Supply by 24.4% during the fourth quarter. Comerica Bank now owns 134,716 shares of the industrial products company’s stock valued at $16,780,000 after buying an additional 26,436 shares in the last quarter. Magnetar Financial LLC lifted its position in SiteOne Landscape Supply by 41.0% during the third quarter. Magnetar Financial LLC now owns 46,669 shares of the industrial products company’s stock valued at $6,011,000 after buying an additional 13,572 shares in the last quarter. Interval Partners LP acquired a new position in SiteOne Landscape Supply during the third quarter valued at approximately $12,720,000. Finally, 59 North Capital Management LP acquired a new position in SiteOne Landscape Supply during the third quarter valued at approximately $214,417,000.

Analyst Ratings Changes

SITE has been the topic of a number of recent research reports. Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Bank of America reduced their price target on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. UBS Group initiated coverage on shares of SiteOne Landscape Supply in a research report on Friday, April 10th. They set a “neutral” rating and a $140.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Thursday, April 30th. Finally, Robert W. Baird set a $160.00 price target on shares of SiteOne Landscape Supply in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus target price of $160.10.

SiteOne Landscape Supply Trading Down 3.7%

NYSE SITE opened at $110.52 on Wednesday. The company’s fifty day simple moving average is $131.21 and its 200-day simple moving average is $134.76. SiteOne Landscape Supply, Inc. has a 52 week low of $110.02 and a 52 week high of $168.56. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The stock has a market cap of $4.90 billion, a P/E ratio of 32.79, a PEG ratio of 1.49 and a beta of 1.42.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The firm had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. During the same period in the previous year, the firm posted ($0.61) earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts predict that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current fiscal year.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.