JPMorgan Chase & Co. Reduces Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• JPMorgan Chase & Co. trimmed its stake in SiteOne by 25.3% during Q3, selling 82,480 shares and ending the period with 243,479 shares (about 0.55% of the company) worth roughly $31.36 million.
• SiteOne beat expectations for its most recent quarter with EPS of ($0.20) vs. a ($0.29) consensus and reported $1.05 billion in revenue (up 3.2% year-over-year), while the stock carries a $5.66 billion market cap and a consensus analyst target of $159.44.
• Company insider EVP Eric J. Elema sold 1,765 shares at an average price of $158.01, cutting his position by 37.75%, and insiders currently own about 2.6% of the stock.

JPMorgan Chase & Co. trimmed its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 25.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,479 shares of the industrial products company's stock after selling 82,480 shares during the period. JPMorgan Chase & Co. owned about 0.55% of SiteOne Landscape Supply worth $31,360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company's stock valued at $29,000 after buying an additional 90 shares during the last quarter. HM Payson & Co. lifted its stake in shares of SiteOne Landscape Supply by 32.2% during the 3rd quarter. HM Payson & Co. now owns 398 shares of the industrial products company's stock worth $51,000 after acquiring an additional 97 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock worth $48,000 after acquiring an additional 107 shares during the last quarter. Danske Bank A S purchased a new position in SiteOne Landscape Supply during the 3rd quarter valued at $52,000. Finally, Bessemer Group Inc. boosted its holdings in SiteOne Landscape Supply by 276.5% during the 3rd quarter. Bessemer Group Inc. now owns 448 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 329 shares during the period.

SiteOne Landscape Supply Price Performance

Shares of SITE stock opened at $127.31 on Monday. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $168.56. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 1.65 and a beta of 1.59. The stock has a fifty day simple moving average of $144.00 and a two-hundred day simple moving average of $134.49. The company has a current ratio of 2.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.29.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.48) earnings per share. On average, analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the transaction, the executive vice president directly owned 2,911 shares in the company, valued at $459,967.11. This represents a 37.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Robert W. Baird set a $190.00 target price on SiteOne Landscape Supply in a research note on Thursday, February 12th. Barclays boosted their target price on shares of SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an "equal weight" rating in a research note on Thursday, February 12th. Royal Bank Of Canada raised their price target on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Bank of America assumed coverage on shares of SiteOne Landscape Supply in a report on Thursday, December 18th. They set a "buy" rating and a $147.00 price objective for the company. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of SiteOne Landscape Supply in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $159.44.

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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