Bank of America Corp DE Reduces Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bank of America Corp DE lowered its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 216,036 shares of the industrial products company's stock after selling 81,496 shares during the quarter. Bank of America Corp DE owned approximately 0.48% of SiteOne Landscape Supply worth $28,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Vermont raised its position in shares of SiteOne Landscape Supply by 657.9% in the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock worth $38,000 after acquiring an additional 250 shares in the last quarter. Tortoise Investment Management LLC raised its position in shares of SiteOne Landscape Supply by 78.9% in the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock worth $39,000 after acquiring an additional 131 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $40,000. Brown Brothers Harriman & Co. raised its position in shares of SiteOne Landscape Supply by 395.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock worth $45,000 after acquiring an additional 273 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of SiteOne Landscape Supply by 11.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,498 shares of the industrial products company's stock worth $197,000 after acquiring an additional 156 shares in the last quarter.

SiteOne Landscape Supply Stock Up 0.0%

SITE traded up $0.04 during trading on Friday, hitting $115.81. 432,157 shares of the company's stock traded hands, compared to its average volume of 429,196. The company's 50 day simple moving average is $118.04 and its two-hundred day simple moving average is $131.57. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $160.75. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 43.05 and a beta of 1.62.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. The business had revenue of $939.40 million for the quarter, compared to analysts' expectations of $933.90 million. During the same quarter in the prior year, the business posted ($0.43) earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial reduced their price objective on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus reduced their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research report on Monday, April 28th. UBS Group reduced their price objective on SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft assumed coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They set a "hold" rating and a $135.00 price objective for the company. Finally, Royal Bank of Canada reduced their price objective on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a research 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 company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $145.70.

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.