Zurcher Kantonalbank Zurich Cantonalbank Buys 573 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,835 shares of the industrial products company’s stock after buying an additional 573 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SiteOne Landscape Supply were worth $1,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SITE. Whittier Trust Co. of Nevada Inc. acquired a new position in SiteOne Landscape Supply during the second quarter worth $27,000. Fort Pitt Capital Group LLC grew its holdings in shares of SiteOne Landscape Supply by 24.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 5,205 shares of the industrial products company’s stock worth $632,000 after purchasing an additional 1,028 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of SiteOne Landscape Supply by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,141,624 shares of the industrial products company’s stock worth $138,605,000 after purchasing an additional 28,265 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in SiteOne Landscape Supply by 36.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 2,592 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 689 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in SiteOne Landscape Supply by 49.3% in the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock valued at $58,226,000 after buying an additional 158,350 shares in the last quarter.

SiteOne Landscape Supply Price Performance

Shares of SITE stock opened at $141.86 on Tuesday. The firm’s 50 day moving average price is $133.45 and its two-hundred day moving average price is $150.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 2.47. SiteOne Landscape Supply, Inc. has a 52-week low of $114.60 and a 52-week high of $188.01. The stock has a market cap of $6.40 billion, a PE ratio of 41.12 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $2.71 earnings per share. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.19 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 878 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the sale, the director now directly owns 11,267 shares in the company, valued at approximately $1,453,893.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SITE. Truist Financial raised their price objective on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group decreased their target price on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Barclays lowered their target price on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. UBS Group reduced their price target on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Robert W. Baird lowered their price objective on shares of SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Three investment 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, SiteOne Landscape Supply currently has a consensus rating of “Hold” and a consensus target price of $144.33.

About SiteOne Landscape Supply

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.