Allspring Global Investments Holdings LLC Cuts Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Allspring Global Investments Holdings LLC lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 4.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 368,241 shares of the industrial products company's stock after selling 16,167 shares during the period. Allspring Global Investments Holdings LLC owned 0.82% of SiteOne Landscape Supply worth $44,222,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Arizona State Retirement System increased its stake in SiteOne Landscape Supply by 0.6% in the 4th quarter. Arizona State Retirement System now owns 13,096 shares of the industrial products company's stock worth $1,726,000 after buying an additional 77 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in SiteOne Landscape Supply by 4.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,037 shares of the industrial products company's stock worth $271,000 after buying an additional 78 shares in the last quarter. State of Wyoming increased its stake in SiteOne Landscape Supply by 6.2% in the 4th quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock worth $183,000 after buying an additional 81 shares in the last quarter. 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 buying an additional 95 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in SiteOne Landscape Supply by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,611 shares of the industrial products company's stock worth $2,584,000 after buying an additional 130 shares in the last quarter.

SiteOne Landscape Supply Stock Down 0.7%

Shares of NYSE:SITE opened at $120.34 on Monday. The company has a current ratio of 2.36, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $160.75. The company has a 50-day moving average price of $119.32 and a 200 day moving average price of $126.16. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 47.95, a PEG ratio of 1.98 and a beta of 1.56.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The business had revenue of $939.40 million during the quarter, compared to the consensus estimate of $933.90 million. During the same period in the previous year, the business posted ($0.43) EPS. The firm's revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SITE shares. Deutsche Bank Aktiengesellschaft started coverage on SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a "hold" rating and a $135.00 price target for the company. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Barclays dropped their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Loop Capital dropped their price objective on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a report on Friday, April 4th. Finally, Truist Financial dropped their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $145.70.

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.

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