Allspring Global Investments Holdings LLC Raises Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

Allspring Global Investments Holdings LLC raised its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,784 shares of the industrial products company’s stock after purchasing an additional 26,901 shares during the period. Allspring Global Investments Holdings LLC owned about 0.55% of SiteOne Landscape Supply worth $31,564,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Millennium Management LLC boosted its stake in SiteOne Landscape Supply by 45.9% during the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock valued at $9,126,000 after acquiring an additional 23,657 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of 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. Goldman Sachs Group Inc. lifted its position in shares of SiteOne Landscape Supply by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock worth $25,907,000 after buying an additional 11,574 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of SiteOne Landscape Supply by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock worth $20,679,000 after buying an additional 16,378 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of SiteOne Landscape Supply in the 1st quarter valued at about $6,797,000.

SiteOne Landscape Supply Stock Down 0.1%

SiteOne Landscape Supply stock opened at $103.61 on Monday. SiteOne Landscape Supply, Inc. has a 52 week low of $100.52 and a 52 week high of $168.56. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.40 and a beta of 1.34. The company’s 50-day moving average price is $110.06 and its two-hundred day moving average price is $128.81. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company had revenue of $940.10 million during the quarter, compared to the consensus estimate of $982.27 million. During the same quarter last year, the business earned ($0.61) earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, analysts expect that SiteOne Landscape Supply, Inc. will post 4.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SITE shares. Weiss Ratings downgraded SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Zacks Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Thursday, April 30th. UBS Group reaffirmed a “neutral” rating on shares of SiteOne Landscape Supply in a report on Thursday, June 25th. Finally, Stifel Nicolaus reduced their target price on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $156.64.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 563 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total value of $64,818.19. Following the sale, the director directly owned 11,829 shares in the company, valued at $1,361,872.77. The trade was a 4.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.