Mediolanum International Funds Ltd Has $5.43 Million Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Mediolanum International Funds Ltd cut its stake in SiteOne Landscape Supply by 50.6% in the first quarter, leaving it with 41,800 shares valued at about $5.43 million.
• Several other institutions remain heavily invested, with firms like Wasatch Advisors, Bamco, and Capital World Investors holding large positions and in some cases increasing their stakes.
• Analysts are mixed on SITE: recent downgrades and price-target cuts have pushed the consensus to “Hold”, while the stock recently traded near $102.86 after missing quarterly EPS and revenue expectations.

Mediolanum International Funds Ltd lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 50.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,800 shares of the industrial products company's stock after selling 42,852 shares during the quarter. Mediolanum International Funds Ltd owned 0.09% of SiteOne Landscape Supply worth $5,434,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Wasatch Advisors LP boosted its stake in shares of SiteOne Landscape Supply by 11.4% during the 3rd quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company's stock worth $280,455,000 after buying an additional 222,959 shares during the last quarter. Bamco Inc. NY increased its position in shares of SiteOne Landscape Supply by 3.1% in the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company's stock valued at $252,653,000 after acquiring an additional 61,490 shares during the last quarter. Capital World Investors raised its holdings in SiteOne Landscape Supply by 37.9% during the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company's stock worth $174,675,000 after acquiring an additional 385,666 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in SiteOne Landscape Supply by 2.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company's stock worth $147,313,000 after acquiring an additional 31,684 shares in the last quarter. Finally, State Street Corp boosted its position in SiteOne Landscape Supply by 1.7% during the second quarter. State Street Corp now owns 777,354 shares of the industrial products company's stock valued at $94,013,000 after purchasing an additional 12,766 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SITE. Barclays lowered their target price on shares of SiteOne Landscape Supply from $148.00 to $129.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 14th. Zacks Research downgraded shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a research report on Monday, June 22nd. Weiss Ratings downgraded shares of SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 6th. UBS Group restated a "neutral" rating on shares of SiteOne Landscape Supply in a research note on Thursday, June 25th. Finally, Robert W. Baird set a $160.00 target price on shares of SiteOne Landscape Supply in a report on Thursday, April 30th. Seven 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $156.64.

SiteOne Landscape Supply Stock Down 0.8%

SITE opened at $102.86 on Tuesday. SiteOne Landscape Supply, Inc. has a 1-year low of $100.52 and a 1-year high of $168.56. The stock's fifty day simple moving average is $109.69 and its 200 day simple moving average is $128.64. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The stock has a market cap of $4.56 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.34.

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

Insider Activity

In other news, Director Fred M. Diaz sold 562 shares of the business'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. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company's stock.

About SiteOne Landscape Supply

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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