Bank of America Corp DE Sells 81,496 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bank of America Corp DE lowered its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 27.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,036 shares of the industrial products company’s stock after selling 81,496 shares during the quarter. Bank of America Corp DE owned about 0.48% of SiteOne Landscape Supply worth $28,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in SiteOne Landscape Supply by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company’s stock valued at $548,503,000 after buying an additional 49,256 shares during the period. Wasatch Advisors LP increased its holdings in SiteOne Landscape Supply by 9.7% in the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company’s stock valued at $228,107,000 after buying an additional 153,447 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in SiteOne Landscape Supply by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company’s stock valued at $210,570,000 after buying an additional 91,719 shares during the period. Conestoga Capital Advisors LLC increased its holdings in SiteOne Landscape Supply by 2.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,167,454 shares of the industrial products company’s stock valued at $153,835,000 after buying an additional 30,725 shares during the period. Finally, Geneva Capital Management LLC increased its holdings in SiteOne Landscape Supply by 13.9% in the 4th quarter. Geneva Capital Management LLC now owns 712,894 shares of the industrial products company’s stock valued at $93,938,000 after buying an additional 86,793 shares during the period.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock opened at $125.63 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The stock has a market cap of $5.63 billion, a PE ratio of 46.70 and a beta of 1.62. The stock has a 50-day moving average of $118.30 and a 200-day moving average of $132.14. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.75.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $933.90 million. During the same period last year, the company earned ($0.43) earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a “hold” rating and a $135.00 target price on the stock. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. Barclays reduced their target price on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial reduced their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group reduced their target price on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply has an average rating of “Hold” and a consensus target price of $145.70.

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.