Bamco Inc. NY Buys 242,106 Shares of SiteOne Landscape Supply, Inc. $SITE

Bamco Inc. NY grew its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 14.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,941,817 shares of the industrial products company’s stock after purchasing an additional 242,106 shares during the period. SiteOne Landscape Supply makes up about 0.6% of Bamco Inc. NY’s portfolio, making the stock its 27th biggest position. Bamco Inc. NY owned about 4.35% of SiteOne Landscape Supply worth $234,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Allworth Financial LP raised its holdings in SiteOne Landscape Supply by 61.2% during the 2nd quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock valued at $29,000 after buying an additional 90 shares during the period. Brooklyn Investment Group purchased a new stake in shares of SiteOne Landscape Supply in the first quarter valued at $32,000. NewEdge Advisors LLC lifted its holdings 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 worth $48,000 after acquiring an additional 107 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of SiteOne Landscape Supply by 49.5% in the 2nd quarter. Parallel Advisors LLC now owns 562 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 186 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of SiteOne Landscape Supply during the 1st quarter worth about $69,000.

SiteOne Landscape Supply Price Performance

SITE opened at $129.49 on Friday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.13 and a beta of 1.60. The company has a current ratio of 2.49, a quick ratio of 1.14 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $154.00. The business’s fifty day simple moving average is $126.58 and its 200-day simple moving average is $129.63.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. SiteOne Landscape Supply had a net margin of 2.98% and a return on equity of 8.62%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SITE. Loop Capital raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $160.00 in a research report on Friday, September 19th. Stifel Nicolaus set a $140.00 target price on SiteOne Landscape Supply in a research note on Monday, November 17th. Royal Bank Of Canada raised their price target on SiteOne Landscape Supply from $143.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Zacks Research upgraded SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Finally, Barclays set a $134.00 target price on SiteOne Landscape Supply and gave the stock an “equal weight” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply has an average rating of “Hold” and a consensus target price of $151.11.

SiteOne Landscape Supply Company 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.