Amundi Boosts Stake in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Amundi increased its SiteOne Landscape Supply stake by 49% in the second quarter, adding 344,980 shares to own 1.05 million shares, or approximately 2.4% of the company valued at $120 million.
• SiteOne reported quarterly revenue of $1.53 billion, up 4.7% year over year, but earnings of $3.14 per share fell short of the $3.36 analyst consensus. Shares opened at $97.92, near their 12-month low of $90.07.
• Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $135.27; CEO Doug Black also purchased 5,000 shares worth approximately $481,000.

Amundi increased its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 49.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,048,747 shares of the industrial products company's stock after acquiring an additional 344,980 shares during the period. Amundi owned about 2.40% of SiteOne Landscape Supply worth $120,043,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SITE. Basecamp Wealth Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 219.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Whittier Trust Co. lifted its stake in SiteOne Landscape Supply by 72.7% in the first quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $27,000 after purchasing an additional 88 shares during the last quarter. Rothschild Investment LLC boosted its position in SiteOne Landscape Supply by 1,521.4% during the fourth quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company's stock valued at $28,000 after buying an additional 213 shares during the period. IFP Advisors Inc boosted its position in SiteOne Landscape Supply by 106.8% during the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock valued at $38,000 after buying an additional 158 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of SiteOne Landscape Supply during the fourth quarter valued at about $42,000.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock opened at $97.92 on Thursday. SiteOne Landscape Supply, Inc. has a 12 month low of $90.07 and a 12 month high of $168.56. The stock has a market cap of $4.27 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36. The company's fifty day moving average price is $100.69 and its 200-day moving average price is $116.51.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.22). The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.86 EPS. On average, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SITE has been the topic of several analyst reports. Stifel Nicolaus reiterated a "hold" rating and issued a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. KeyCorp dropped their target price on SiteOne Landscape Supply from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Robert W. Baird reduced their price target on SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings raised SiteOne Landscape Supply from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, September 2nd. Finally, Truist Financial lowered their price objective on SiteOne Landscape Supply from $200.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $135.27.

Insider Activity at SiteOne Landscape Supply

In other news, CEO Doug Black bought 5,000 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost of $96.13 per share, with a total value of $480,650.00. Following the completion of the transaction, 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 hyperlink. 2.10% of the stock is owned by insiders.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

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