KLP Kapitalforvaltning AS Increases Holdings in SiteOne Landscape Supply, Inc. $SITE

KLP Kapitalforvaltning AS grew its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400 shares of the industrial products company’s stock after acquiring an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in SiteOne Landscape Supply were worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SITE. HM Payson & Co. purchased 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 $32,000. Golden State Wealth Management LLC grew its position in shares of SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 139 shares during the period. Eastern Bank purchased a new position in shares of SiteOne Landscape Supply in the first quarter worth about $38,000. Finally, NewEdge Advisors LLC raised its stake in SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares during the period.

Wall Street Analyst Weigh In

SITE has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. The Goldman Sachs Group lowered their target price on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating for the company in a report on Monday. Loop Capital upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their target price for the company from $150.00 to $160.00 in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus price target of $148.50.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total transaction of $975,352.56. Following the transaction, the chief executive officer owned 600,446 shares of the company’s stock, valued at $79,312,912.14. The trade was a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

SiteOne Landscape Supply Price Performance

Shares of SiteOne Landscape Supply stock opened at $124.04 on Wednesday. The company’s 50-day moving average price is $136.14 and its two-hundred day moving average price is $126.39. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The stock has a market cap of $5.53 billion, a PE ratio of 45.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. 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 posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.63 EPS. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal 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.