Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) sold by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL reduced its stake in shares of SiteOne Landscape Supply, Inc. (NYSE: SITE – Get Rating) by 42.0% in the first quarter, HoldingsChannel.com reports. The fund held 2,900 shares of the industrial products company after selling 2,100 shares during the period. Virginia Retirement Systems ET AL’s holdings in SiteOne Landscape Supply were worth $469,000 at the end of the most recent reporting period.
Other institutional investors have also recently changed their stake in the company. Allspring Global Investments Holdings LLC acquired a new stock position in SiteOne Landscape Supply during the fourth quarter worth approximately $192,495,000. Massachusetts Financial Services Co. MA acquired a new position in SiteOne Landscape Supply during the fourth quarter worth $71,647,000. Goldman Sachs Group Inc. increased its equity stake in SiteOne Landscape Supply by 82.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,599 shares of the industrial products company worth $142,848,000 after acquiring an additional 265,954 shares during the period. Millennium Management LLC increased its holdings of SiteOne Landscape Supply shares by 104.7% in the fourth quarter. Millennium Management LLC now owns 315,637 shares of the industrial products company valued at $76,473,000 after purchasing an additional 161,452 shares during the period. Finally, Renaissance Technologies LLC increased its equity stake in SiteOne Landscape Supply by 95.7% during the 4th quarter. Renaissance Technologies LLC now owns 193,900 shares of the industrial products company worth $46,978,000 after purchasing an additional 94,800 shares in the last quarter.
In related news, CEO Doug Black sold 17,431 shares in a trade on Wednesday, April 13. The shares were sold at an average price of $149.12, for a total transaction of $2,599,310.72. Following the completion of the sale, the CEO now owns 468,918 shares of the company, valued at approximately $69,925,052.16. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. 2.70% of the shares are currently held by insiders.
Shares of SiteOne Landscape Supply opened at $124.22 on Friday. The company has a current ratio of 2.32, a quick ratio of 0.89 and a debt ratio of 0.41. The company has a fifty-day simple moving average of $126.05 and a 200-day simple moving average of $160.29. The stock has a market capitalization of $5.58 billion, a P/E ratio of 21.64 and a beta of 1.33. SiteOne Landscape Supply, Inc. has a 12 month minimum of $108.77 and a 12 month maximum of $260.00.
SiteOne Landscape Supply (NYSE:SITE – Get Rating) last reported quarterly results on Wednesday, May 4. The industrial products company reported earnings per share (EPS) of $0.70 for the quarter, beating analysts’ consensus estimate of $0.16 by $0.54. The company posted revenue of $805.30 million in the quarter, versus a consensus estimate of $742.01 million. SiteOne Landscape Supply achieved a return on equity of 25.59% and a net margin of 7.25%. SiteOne Landscape Supply revenue for the quarter increased 23.9% year on year. During the same period of the previous year, the company achieved EPS of $0.16. As a group, sell-side analysts expect SiteOne Landscape Supply, Inc. to post earnings per share of 5.72 for the current fiscal year.
A number of equity analysts have recently commented on SITE shares. UBS Group downgraded SiteOne Landscape Supply from a ‘sell’ to a ‘neutral’ rating and lowered its target price for the business from $170.00 to $165.00 in a report released Monday, March 28. . They noted that the move was a review call. TheStreet downgraded shares of SiteOne Landscape Supply from a “b-” rating to a “c+” rating in a Wednesday, May 18 research note. StockNews.com began covering SiteOne Landscape Supply stocks in a research report on Thursday, March 31. They issued a “holding” rating for the company. Barclays reduced its price target on SiteOne Landscape Supply from $200.00 to $191.00 in a Thursday, March 31 research report. Finally, Royal Bank of Canada upgraded SiteOne Landscape Supply from an “underperforming” rating to an “industry performer” rating and reduced its target price for the business from $128.00 to 118, $00 in a report from Wednesday, June 22. Five investment analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.86.
Company Profile SiteOne Landscape Supply (Get a rating)
SiteOne Landscape Supply, Inc. is engaged in the wholesale distribution of landscape supplies in the United States and Canada. The company offers a selection of approximately 135,000 stocking units, including irrigation supplies, which include controllers, valves, sprinkler heads and irrigation hoses; fertilizers, grass seeds and de-icing products; control products, such as herbicides, fungicides, rodenticides and other pesticides; landscaping accessories including mulches, soil amendments, drainpipes, tools and sod; nursery stock, which consists of deciduous and evergreen shrubs, ornamentals, shade trees, evergreens, field and container grown nursery stock, roses, perennials, annuals, bulbs and plant species; landscaping, such as pavers, natural stones, blocks and other durable materials; and outdoor lighting products which include fixtures, LED lamps, wires, transformers and accessories.
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