Hsbc Holdings PLC Boosts Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Hsbc Holdings PLC raised its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 20.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,563 shares of the industrial products company’s stock after acquiring an additional 769 shares during the period. Hsbc Holdings PLC’s holdings in SiteOne Landscape Supply were worth $555,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SITE. Whittier Trust Co. of Nevada Inc. purchased a new stake in SiteOne Landscape Supply in the second quarter valued at approximately $27,000. Toronto Dominion Bank purchased a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at $29,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of SiteOne Landscape Supply by 588.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 247 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in SiteOne Landscape Supply in the first quarter worth $58,000. Finally, National Bank of Canada FI increased its stake in SiteOne Landscape Supply by 67.5% in the second quarter. National Bank of Canada FI now owns 536 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 216 shares during the last quarter.

Insider Transactions at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 878 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $129.04, for a total transaction of $113,297.12. Following the completion of the transaction, the director now owns 11,267 shares in the company, valued at $1,453,893.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

SITE has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Barclays dropped their target price on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Truist Financial increased their price target on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group lowered their price objective on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Robert W. Baird cut their price objective on shares of SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $144.33.

SiteOne Landscape Supply Price Performance

Shares of SiteOne Landscape Supply stock opened at $150.91 on Tuesday. The company’s fifty day simple moving average is $139.90 and its two-hundred day simple moving average is $146.64. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month high of $188.01. The firm has a market cap of $6.81 billion, a PE ratio of 43.74 and a beta of 1.53. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.13. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. SiteOne Landscape Supply’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $2.71 earnings per share. As a group, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.19 EPS for the current 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.