Allianz Asset Management GmbH Raises Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Allianz Asset Management GmbH increased its stake in SiteOne Landscape Supply by 3.1%, holding 666,259 shares worth approximately $80.6 million as of the second quarter.
• SiteOne Landscape Supply reported earnings of $2.86 per share, falling short of estimates, with a revenue of $1.46 billion, a 3.4% increase year-over-year, but below analyst expectations.
• The stock has seen various analysts adjust their ratings, with five rating it as a Buy and one as a Sell, establishing a consensus target price of $148.50.

Allianz Asset Management GmbH increased its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 3.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 666,259 shares of the industrial products company's stock after buying an additional 20,055 shares during the period. Allianz Asset Management GmbH owned 1.49% of SiteOne Landscape Supply worth $80,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SITE. GAMMA Investing LLC increased its stake in SiteOne Landscape Supply by 24.3% in the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after purchasing an additional 95 shares during the period. NewEdge Advisors LLC increased its stake in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock worth $48,000 after purchasing an additional 107 shares during the period. Deutsche Bank AG increased its stake in SiteOne Landscape Supply by 3.9% in the 1st quarter. Deutsche Bank AG now owns 3,228 shares of the industrial products company's stock worth $392,000 after purchasing an additional 121 shares during the period. Golden State Wealth Management LLC increased its stake in SiteOne Landscape Supply by 106.1% in the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after purchasing an additional 139 shares during the period. Finally, DAVENPORT & Co LLC increased its stake in SiteOne Landscape Supply by 1.4% in the 1st quarter. DAVENPORT & Co LLC now owns 11,121 shares of the industrial products company's stock worth $1,351,000 after purchasing an additional 153 shares during the period.

SiteOne Landscape Supply Stock Down 1.2%

SITE stock opened at $120.83 on Friday. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The business's 50 day moving average price is $135.61 and its two-hundred day moving average price is $126.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 2.08 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.89 by ($0.03). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company posted $2.63 EPS. The firm's revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In other news, CEO Doug Black sold 7,384 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the sale, the chief executive officer directly owned 600,446 shares of the company's stock, valued at $79,312,912.14. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on SITE shares. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Weiss Ratings restated a "hold (c-)" rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their price target on SiteOne Landscape Supply from $158.00 to $138.00 and set a "neutral" rating on the stock in a report on Monday. Royal Bank Of Canada boosted their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Finally, William Blair restated a "market perform" rating on shares of SiteOne Landscape Supply in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has an average rating of "Hold" and a consensus target price of $148.50.

SiteOne Landscape Supply 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.

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