SiteOne Landscape Supply, Inc. $SITE Holdings Lifted by Parallel Advisors LLC

Parallel Advisors LLC increased its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 49.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562 shares of the industrial products company’s stock after acquiring an additional 186 shares during the period. Parallel Advisors LLC’s holdings in SiteOne Landscape Supply were worth $68,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. HM Payson & Co. acquired a new stake in SiteOne Landscape Supply during the first quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new stake in SiteOne Landscape Supply during the first quarter valued at approximately $32,000. Golden State Wealth Management LLC lifted its position in shares of SiteOne Landscape Supply by 106.1% in the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 139 shares in the last quarter. Eastern Bank purchased a new stake in shares of SiteOne Landscape Supply in the 1st quarter valued at approximately $38,000. Finally, NewEdge Advisors LLC lifted its position in shares of SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 107 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Royal Bank Of Canada increased their target price on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Finally, Loop Capital upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their target price for the stock from $150.00 to $160.00 in a research report on Friday, September 19th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $150.50.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $128.36 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 46.85, a P/E/G ratio of 2.18 and a beta of 1.60. The company’s fifty day moving average is $138.24 and its two-hundred day moving average is $126.33. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $160.74.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.03). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.SiteOne Landscape Supply’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 earnings per share. Equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Insider Activity at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the completion of the sale, the executive vice president owned 13,663 shares in the company, valued at $1,725,363.64. The trade was a 74.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $132.09, for a total transaction of $975,352.56. Following the sale, the chief executive officer owned 600,446 shares of the company’s stock, valued at approximately $79,312,912.14. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is owned by corporate insiders.

About SiteOne Landscape Supply

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.