Norges Bank Buys Shares of 151,935 SiteOne Landscape Supply, Inc. $SITE

Norges Bank bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the 4th quarter, HoldingsChannel reports. The fund bought 151,935 shares of the industrial products company’s stock, valued at approximately $18,925,000.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in SiteOne Landscape Supply by 541.9% during the fourth quarter. True Wealth Design LLC now owns 199 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. Rothschild Investment LLC increased its stake in SiteOne Landscape Supply by 1,521.4% during the fourth quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. IFP Advisors Inc increased its stake in SiteOne Landscape Supply by 106.8% during the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. NewEdge Advisors LLC increased 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 valued at $48,000 after purchasing an additional 107 shares during the last quarter. Finally, Danske Bank A S bought a new stake in SiteOne Landscape Supply during the third quarter valued at $52,000.

Wall Street Analysts Forecast Growth

SITE has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Thursday, April 30th. Truist Financial upped their price target on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Finally, UBS Group initiated coverage on shares of SiteOne Landscape Supply in a report on Friday, April 10th. They issued a “neutral” rating and a $140.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SiteOne Landscape Supply presently has an average rating of “Hold” and an average target price of $160.10.

SiteOne Landscape Supply Stock Up 5.1%

SITE stock opened at $107.24 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply, Inc. has a fifty-two week low of $100.52 and a fifty-two week high of $168.56. The firm’s 50-day simple moving average is $124.14 and its 200 day simple moving average is $132.95. The stock has a market cap of $4.75 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 1.33 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The firm had revenue of $940.10 million during the quarter, compared to analyst estimates of $982.27 million. During the same period last year, the business earned ($0.61) EPS. The firm’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 562 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $112.52, for a total value of $63,236.24. Following the sale, the director owned 11,267 shares of the company’s stock, valued at $1,267,762.84. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by company insiders.

SiteOne Landscape Supply Company 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.