SiteOne Landscape Supply, Inc. (NYSE:SITE) Stake Raised by Rhumbline Advisers

Rhumbline Advisers grew its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,037 shares of the industrial products company's stock after purchasing an additional 2,635 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of SiteOne Landscape Supply worth $6,076,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SITE. Raymond James Financial Inc. acquired a new stake in SiteOne Landscape Supply during the fourth quarter valued at approximately $40,676,000. Artisan Partners Limited Partnership boosted its holdings in shares of SiteOne Landscape Supply by 137.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 368,142 shares of the industrial products company's stock valued at $48,510,000 after buying an additional 212,907 shares during the period. BLI Banque de Luxembourg Investments acquired a new position in shares of SiteOne Landscape Supply in the 4th quarter valued at about $22,787,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of SiteOne Landscape Supply by 320.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 226,300 shares of the industrial products company's stock valued at $29,713,000 after buying an additional 172,500 shares during the last quarter. Finally, Wasatch Advisors LP grew its position in shares of SiteOne Landscape Supply by 9.7% during the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock valued at $228,107,000 after buying an additional 153,447 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on SITE. Royal Bank of Canada decreased their target price on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They issued a "hold" rating and a $135.00 target price on the stock. Barclays lowered their price target on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Loop Capital reduced their target price on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a research note on Friday, April 4th. Finally, Truist Financial dropped their price target on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $145.70.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded down $0.57 during midday trading on Thursday, reaching $123.13. 612,551 shares of the company were exchanged, compared to its average volume of 429,004. The company's 50 day moving average price is $117.34 and its two-hundred day moving average price is $129.06. The company has a market cap of $5.52 billion, a P/E ratio of 45.77 and a beta of 1.56. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $160.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $939.40 million for the quarter, compared to analyst estimates of $933.90 million. During the same quarter in the prior year, the business earned ($0.43) EPS. SiteOne Landscape Supply's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

SiteOne Landscape Supply Company 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.