Madison Asset Management LLC Buys New Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Madison Asset Management opened a new position in SiteOne Landscape Supply during the first quarter, buying 13,046 shares worth about $1.74 million.
• Other institutional investors also adjusted holdings in SITE, with several small funds reporting large percentage increases in their stakes.
• Insider activity was mixed: director Fred M. Diaz sold 562 shares under a pre-arranged trading plan, while analysts currently rate the stock a Hold on average with a consensus price target of $156.64.

Madison Asset Management LLC purchased a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,046 shares of the industrial products company's stock, valued at approximately $1,737,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC lifted its position in SiteOne Landscape Supply by 541.9% during the fourth quarter. True Wealth Design LLC now owns 199 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares in the last quarter. Whittier Trust Co. raised its stake in shares of SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 88 shares during the period. Rothschild Investment LLC raised its stake in shares of SiteOne Landscape Supply by 1,521.4% in the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 213 shares during the period. IFP Advisors Inc lifted its holdings in shares of SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of SiteOne Landscape Supply during the 4th quarter valued at $42,000.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director owned 11,267 shares in the company, valued at $1,267,762.84. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by company insiders.

SiteOne Landscape Supply Stock Performance

SiteOne Landscape Supply stock opened at $103.30 on Thursday. SiteOne Landscape Supply, Inc. has a 12-month low of $99.99 and a 12-month high of $168.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.34. The firm's fifty day moving average price is $109.03 and its 200 day moving average price is $128.33.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The business had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. During the same quarter in the prior year, the business earned ($0.61) earnings per share. The firm's revenue was up .1% on a year-over-year basis. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 4.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on SITE shares. Bank of America lowered their price target on SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating for the company in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a research note on Thursday, April 30th. UBS Group reaffirmed a "neutral" rating on shares of SiteOne Landscape Supply in a research report on Thursday, June 25th. Barclays lowered their target price on SiteOne Landscape Supply from $148.00 to $129.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded SiteOne Landscape Supply from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of "Hold" and a consensus target price of $156.64.

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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