Rhumbline Advisers Cuts Holdings in SiteOne Landscape Supply, Inc. $SITE

Rhumbline Advisers cut its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,539 shares of the industrial products company’s stock after selling 5,498 shares during the quarter. Rhumbline Advisers owned 0.10% of SiteOne Landscape Supply worth $5,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SITE. Allworth Financial LP lifted its holdings in SiteOne Landscape Supply by 61.2% in the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 90 shares during the period. Brooklyn Investment Group purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter valued at about $32,000. NewEdge Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 107 shares during the period. Parallel Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 49.5% in the second quarter. Parallel Advisors LLC now owns 562 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 186 shares during the period. Finally, SVB Wealth LLC purchased a new stake in SiteOne Landscape Supply during the first quarter worth about $69,000.

SiteOne Landscape Supply Stock Performance

SiteOne Landscape Supply stock opened at $130.44 on Friday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $156.93. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 2.18 and a beta of 1.60. The stock has a fifty day moving average of $126.48 and a two-hundred day moving average of $129.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.14 and a current ratio of 2.49.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SITE. Royal Bank Of Canada increased their target price on shares of SiteOne Landscape Supply from $143.00 to $151.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Stifel Nicolaus set a $140.00 price objective on SiteOne Landscape Supply in a research note on Monday, November 17th. Loop Capital upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $160.00 in a research report on Friday, September 19th. William Blair reissued a “market perform” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 15th. Finally, Zacks Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $152.10.

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.