Fifth Third Bancorp Increases Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Fifth Third Bancorp boosted its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,595 shares of the industrial products company’s stock after buying an additional 167 shares during the quarter. Fifth Third Bancorp’s holdings in SiteOne Landscape Supply were worth $437,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in SiteOne Landscape Supply by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company’s stock worth $548,503,000 after buying an additional 49,256 shares during the period. Wasatch Advisors LP boosted its stake in shares of SiteOne Landscape Supply by 9.7% in the fourth quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company’s stock valued at $228,107,000 after purchasing an additional 153,447 shares during the period. Bamco Inc. NY boosted its stake in shares of SiteOne Landscape Supply by 4.6% in the fourth quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company’s stock valued at $217,786,000 after purchasing an additional 72,430 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of SiteOne Landscape Supply by 6.1% in the fourth 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 purchasing an additional 91,719 shares during the period. Finally, Geneva Capital Management LLC boosted its stake in shares of SiteOne Landscape Supply by 13.9% in the fourth quarter. Geneva Capital Management LLC now owns 712,894 shares of the industrial products company’s stock valued at $93,938,000 after purchasing an additional 86,793 shares during the period.

SiteOne Landscape Supply Stock Down 2.5%

Shares of SiteOne Landscape Supply stock opened at $116.70 on Wednesday. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $160.75. The company has a 50 day moving average of $118.24 and a 200 day moving average of $127.95. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.23 billion, a P/E ratio of 46.49, a P/E/G ratio of 1.96 and a beta of 1.56.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a return on equity of 7.31% and a net margin of 2.53%. The company had revenue of $939.40 million for the quarter, compared to analyst estimates of $933.90 million. During the same period in the previous year, the business posted ($0.43) EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SITE. Stifel Nicolaus lowered their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Loop Capital lowered their price objective on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank Of Canada lowered their price objective on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. Finally, Truist Financial lowered their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.