SiteOne Landscape Supply, Inc. $SITE Stock: McCollum Christoferson Group LLC Lowers Holdings

McCollum Christoferson Group LLC lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 57.9% during the third quarter, HoldingsChannel.com reports. The firm owned 32,161 shares of the industrial products company’s stock after selling 44,163 shares during the period. McCollum Christoferson Group LLC’s holdings in SiteOne Landscape Supply were worth $2,904,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Bamco Inc. NY bought a new position in SiteOne Landscape Supply in the second quarter valued at $232,115,000. BlackRock Inc. bought a new stake in SiteOne Landscape Supply during the 2nd quarter worth about $221,355,000. Jupiter Topco LLC bought a new stake in SiteOne Landscape Supply during the 2nd quarter worth about $59,521,000. Bank of America Corp DE acquired a new position in shares of SiteOne Landscape Supply during the 2nd quarter worth about $49,027,000. Finally, Amundi boosted its stake in shares of SiteOne Landscape Supply by 49.0% during the 2nd quarter. Amundi now owns 1,048,747 shares of the industrial products company’s stock worth $120,043,000 after buying an additional 344,980 shares during the last quarter.

Insider Activity

In other news, CEO Doug Black bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $96.13 per share, for a total transaction of $480,650.00. Following the purchase, the chief executive officer owned 13,000 shares of the company’s stock, valued at approximately $1,249,690. This trade represents a 62.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group decreased their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group set a $100.00 target price on SiteOne Landscape Supply in a report on Monday. KeyCorp reduced their price target on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Weiss Ratings downgraded SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 18th. Finally, Deutsche Bank Aktiengesellschaft lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $91.00 in a research report on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average price target of $121.00.

SiteOne Landscape Supply Stock Performance

SITE stock traded up $1.69 during trading hours on Tuesday, reaching $89.68. The stock had a trading volume of 327,721 shares, compared to its average volume of 818,962. The stock has a market capitalization of $3.91 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The stock has a 50-day simple moving average of $94.41 and a 200 day simple moving average of $108.91. SiteOne Landscape Supply, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.86 EPS. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

SiteOne Landscape Supply 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.