Principal Financial Group Inc. Purchases 571 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Principal Financial Group Inc. lifted its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITEFree Report) by 16.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,972 shares of the industrial products company’s stock after acquiring an additional 571 shares during the period. Principal Financial Group Inc.’s holdings in SiteOne Landscape Supply were worth $693,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in shares of SiteOne Landscape Supply during the 4th quarter worth $31,000. GAMMA Investing LLC purchased a new position in shares of SiteOne Landscape Supply in the fourth quarter valued at about $38,000. Benjamin F. Edwards & Company Inc. increased its position in shares of SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 247 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of SiteOne Landscape Supply in the first quarter valued at about $58,000. Finally, iA Global Asset Management Inc. purchased a new position in shares of SiteOne Landscape Supply in the third quarter valued at about $105,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 5th. Truist Financial reduced their price target on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Loop Capital reduced their price target on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. Stifel Nicolaus reduced their price target on shares of SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Finally, Robert W. Baird reduced their price target on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $153.63.

View Our Latest Research Report on SiteOne Landscape Supply

Insider Transactions at SiteOne Landscape Supply

In other news, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

SiteOne Landscape Supply Price Performance

Shares of SITE opened at $116.44 on Friday. The stock has a market cap of $5.26 billion, a PE ratio of 33.75 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 2.36. SiteOne Landscape Supply, Inc. has a fifty-two week low of $115.55 and a fifty-two week high of $188.01. The firm’s 50-day simple moving average is $141.43 and its two-hundred day simple moving average is $156.93.

SiteOne Landscape Supply (NYSE:SITEGet Free Report) last issued its earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.22). The firm had revenue of $904.80 million during the quarter, compared to the consensus estimate of $864.01 million. SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. Analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.81 earnings per share for the current fiscal year.

SiteOne Landscape Supply Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for SiteOne Landscape Supply (NYSE:SITE)

Receive News & Ratings for SiteOne Landscape Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiteOne Landscape Supply and related companies with MarketBeat.com's FREE daily email newsletter.