Man Group plc Buys New Stake in SiteOne Landscape Supply, Inc. $SITE

Man Group plc bought a new position in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 2nd quarter, Holdings Channel reports. The fund bought 115,803 shares of the industrial products company’s stock, valued at approximately $13,249,000.

A number of other hedge funds also recently bought and sold shares of SITE. Bamco Inc. NY grew its stake in shares of SiteOne Landscape Supply by 3.1% in the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after acquiring an additional 61,490 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in SiteOne Landscape Supply in the 2nd quarter valued at $3,059,000. Pier Capital LLC acquired a new stake in SiteOne Landscape Supply in the 4th quarter worth $3,787,000. Norges Bank acquired a new stake in SiteOne Landscape Supply in the 4th quarter worth $18,925,000. Finally, Summit Creek Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 22.1% during the 4th quarter. Summit Creek Advisors LLC now owns 73,442 shares of the industrial products company’s stock worth $9,148,000 after purchasing an additional 13,312 shares during the period.

Wall Street Analysts Forecast Growth

SITE has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Thursday, April 30th. Robert W. Baird reduced their price objective on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Finally, Weiss Ratings cut SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus target price of $135.27.

SiteOne Landscape Supply Stock Down 0.7%

NYSE SITE opened at $95.40 on Friday. SiteOne Landscape Supply, Inc. has a 1-year low of $90.07 and a 1-year high of $168.56. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.39 and a beta of 1.35. The stock’s 50 day moving average is $103.00 and its two-hundred day moving average is $120.03. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm earned $2.86 EPS. SiteOne Landscape Supply’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Doug Black purchased 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $102.03 per share, with a total value of $816,240.00. Following the acquisition, the chief executive officer directly owned 8,000 shares of the company’s stock, valued at approximately $816,240. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

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.