Vanguard Group Inc. Has $499.43 Million Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Vanguard trimmed its stake in SiteOne by 1.3%, now owning 4,009,546 shares—about a 9.0% ownership stake valued at roughly $499.43 million.
• SiteOne missed quarterly expectations, reporting EPS of -$0.60 (vs. -$0.33 expected) and revenue of $940.1M (vs. $982.27M expected), and its shares were down about 3.4% with the stock trading near $121.
• Analyst sentiment is mixed but mildly positive: six Buy and six Hold ratings with an average target price of $160.10, giving the stock an overall "Moderate Buy" consensus.

Vanguard Group Inc. cut its position in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,009,546 shares of the industrial products company's stock after selling 52,310 shares during the period. Vanguard Group Inc. owned about 9.00% of SiteOne Landscape Supply worth $499,429,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SITE. Dynamic Technology Lab Private Ltd acquired a new stake in SiteOne Landscape Supply in the 3rd quarter valued at approximately $1,932,000. Magnetar Financial LLC raised its position in shares of SiteOne Landscape Supply by 41.0% in the third quarter. Magnetar Financial LLC now owns 46,669 shares of the industrial products company's stock valued at $6,011,000 after buying an additional 13,572 shares in the last quarter. Interval Partners LP bought a new stake in shares of SiteOne Landscape Supply during the 3rd quarter valued at $12,720,000. 59 North Capital Management LP acquired a new stake in SiteOne Landscape Supply during the third quarter worth about $214,417,000. Finally, New York State Common Retirement Fund increased its stake in SiteOne Landscape Supply by 19.9% in the third quarter. New York State Common Retirement Fund now owns 104,493 shares of the industrial products company's stock valued at $13,459,000 after acquiring an additional 17,362 shares during the last quarter.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the business's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $158.01, for a total value of $278,887.65. Following the transaction, the executive vice president directly owned 2,911 shares in the company, valued at $459,967.11. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SITE. UBS Group initiated coverage on shares of SiteOne Landscape Supply in a report on Friday, April 10th. They issued a "neutral" rating and a $140.00 target price for the company. Zacks Research raised SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a research note on Friday, February 13th. Royal Bank Of Canada upped their price target on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of SiteOne Landscape Supply in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, SiteOne Landscape Supply has an average rating of "Moderate Buy" and an average target price of $160.10.

SiteOne Landscape Supply Stock Down 3.4%

Shares of NYSE:SITE opened at $121.14 on Wednesday. The business's 50 day moving average is $135.60 and its 200 day moving average is $135.06. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.63 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply, Inc. has a 12-month low of $112.23 and a 12-month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly 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 return on equity of 9.22% and a net margin of 3.24%.The firm had revenue of $940.10 million for the quarter, compared to analysts' expectations of $982.27 million. During the same quarter last year, the firm posted ($0.61) earnings per share. The firm's revenue for the quarter was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 4.18 earnings per share for the current fiscal year.

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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