SiteOne Landscape Supply, Inc. $SITE Shares Newly Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC bought a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,032 shares of the industrial products company’s stock, valued at approximately $529,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SITE. GAMMA Investing LLC grew its holdings in SiteOne Landscape Supply by 86.7% during the third quarter. GAMMA Investing LLC now owns 4,101 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 1,904 shares during the period. Farther Finance Advisors LLC raised its holdings in SiteOne Landscape Supply by 375.4% in the third quarter. Farther Finance Advisors LLC now owns 1,721 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,359 shares during the period. Fenimore Asset Management Inc raised its holdings in SiteOne Landscape Supply by 9.1% in the third quarter. Fenimore Asset Management Inc now owns 164,444 shares of the industrial products company’s stock worth $14,851,000 after purchasing an additional 13,773 shares during the period. Versant Capital Management Inc boosted its position in shares of SiteOne Landscape Supply by 114.3% during the third quarter. Versant Capital Management Inc now owns 420 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 224 shares in the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in shares of SiteOne Landscape Supply during the second quarter worth $114,000.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black purchased 5,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $96.13 per share, with a total value of $480,650.00. Following the acquisition, the chief executive officer directly owned 13,000 shares in the company, valued at $1,249,690. The trade was a 62.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

SiteOne Landscape Supply Stock Up 0.6%

SITE traded up $0.57 during trading hours on Friday, hitting $94.84. 1,014,008 shares of the company’s stock were exchanged, compared to its average volume of 996,644. The stock’s 50-day moving average is $93.69 and its two-hundred day moving average is $107.93. SiteOne Landscape Supply, Inc. has a 1-year low of $82.00 and a 1-year high of $168.56. The company has a quick ratio of 1.01, a current ratio of 2.30 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.44 and a beta of 1.38.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. SiteOne Landscape Supply’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.86 EPS. Sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SITE. Deutsche Bank Aktiengesellschaft lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $91.00 in a report on Thursday, October 8th. Truist Financial dropped their price objective on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. UBS Group reduced their target price on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Zacks Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Barclays decreased their target price on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Five investment 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. Based on data from MarketBeat, SiteOne Landscape Supply has a consensus rating of “Hold” and an average target price of $121.00.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, landscape designers, irrigation professionals, golf course managers, government agencies and other green-industry businesses through a network of distribution centers and branches.

Its product portfolio includes irrigation and outdoor lighting equipment, nursery products, turf and landscape maintenance supplies, fertilizers and other agronomic products, hardscape materials, outdoor living products, and golf course maintenance supplies.