SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 36.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592 shares of the industrial products company’s stock after purchasing an additional 689 shares during the period. Verdence Capital Advisors LLC’s holdings in SiteOne Landscape Supply were worth $315,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SITE. Wasatch Advisors LP raised its stake in shares of SiteOne Landscape Supply by 47.8% during the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after buying an additional 319,071 shares during the last quarter. Jackson Square Partners LLC raised its position in SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock worth $131,588,000 after acquiring an additional 165,067 shares during the last quarter. Bank of New York Mellon Corp raised its position in SiteOne Landscape Supply by 49.3% during the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock worth $58,226,000 after acquiring an additional 158,350 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of SiteOne Landscape Supply in the first quarter valued at about $21,860,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of SiteOne Landscape Supply by 130.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock valued at $24,065,000 after purchasing an additional 112,362 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SITE. UBS Group dropped their price target on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Robert W. Baird lowered their price target on shares of SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Jefferies Financial Group cut their price objective on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Barclays decreased their target price on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a research report on Friday, July 12th. Finally, StockNews.com lowered SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $144.33.

SiteOne Landscape Supply Stock Up 0.2 %

Shares of SITE opened at $144.92 on Tuesday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The company’s fifty day moving average is $132.49 and its two-hundred day moving average is $151.19. The firm has a market cap of $6.55 billion, a PE ratio of 42.01 and a beta of 1.52. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. Analysts forecast that SiteOne Landscape Supply, Inc. will post 3.19 earnings per share for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 878 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $129.04, for a total transaction of $113,297.12. Following the completion of the sale, the director now directly owns 11,267 shares of the company’s stock, valued at approximately $1,453,893.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

SiteOne Landscape Supply Company 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.