Wilson Asset Management International PTY Ltd. Purchases Shares of 33,094 SiteOne Landscape Supply, Inc. $SITE

Key Points

• Wilson Asset Management opened a new stake in SiteOne by purchasing 33,094 shares worth about $4.12 million, representing roughly 0.07% of SiteOne and about 1.1% of the fund's holdings (its 26th largest position).
• Analysts have recently grown more positive—Truist raised its target to $200 (buy) and RBC to $171 (outperform)—with the consensus split of six Buys and six Holds giving SiteOne an average rating of "Moderate Buy" and an average target of $160.10.
• SiteOne recently missed expectations, reporting Q1 EPS of -$0.60 vs. an expected -$0.33 and revenue of $940.1M vs. $982.3M, while the stock trades near $121.14 with a market cap of $5.37B and a 52-week range of $112.23–$168.56.

Wilson Asset Management International PTY Ltd. purchased a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 33,094 shares of the industrial products company's stock, valued at approximately $4,122,000. SiteOne Landscape Supply accounts for about 1.1% of Wilson Asset Management International PTY Ltd.'s holdings, making the stock its 26th biggest holding. Wilson Asset Management International PTY Ltd. owned 0.07% of SiteOne Landscape Supply as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of 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 purchasing an additional 168 shares during the period. NewEdge Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 107 shares during the period. Danske Bank A S acquired a new position in shares of SiteOne Landscape Supply during the third quarter valued at about $52,000. Tower Research Capital LLC TRC raised its holdings in shares of SiteOne Landscape Supply by 145.2% during the second quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 270 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of SiteOne Landscape Supply by 276.5% during the third quarter. Bessemer Group Inc. now owns 448 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 329 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Zacks Research raised SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a research report on Friday, February 13th. Royal Bank Of Canada upped their target price on SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Stifel Nicolaus raised SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $157.00 target price on the stock in a research report on Monday. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of SiteOne Landscape Supply in a research report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, SiteOne Landscape Supply presently has an average rating of "Moderate Buy" and an average target price of $160.10.

Insider Buying and Selling

In related news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the sale, the executive vice president directly owned 2,911 shares of the company's stock, valued at approximately $459,967.11. This represents a 37.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company's stock.

SiteOne Landscape Supply Trading Down 3.4%

SITE opened at $121.14 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. SiteOne Landscape Supply, Inc. has a fifty-two week low of $112.23 and a fifty-two week high of $168.56. The firm has a market capitalization of $5.37 billion, a PE ratio of 35.95, a P/E/G ratio of 1.63 and a beta of 1.42. The company's 50-day moving average is $135.60 and its 200 day moving average is $135.06.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.27). The business had revenue of $940.10 million during the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The company's revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.61) EPS. As a group, research analysts predict that SiteOne Landscape Supply, Inc. will post 4.18 earnings per share for the current fiscal year.

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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