SiteOne Landscape Supply, Inc. $SITE Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 79.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,238 shares of the industrial products company’s stock after selling 102,044 shares during the quarter. Granite Investment Partners LLC owned about 0.06% of SiteOne Landscape Supply worth $3,379,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SITE. Allworth Financial LP grew its holdings in SiteOne Landscape Supply by 61.2% in the 2nd quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. HM Payson & Co. raised its holdings in shares of SiteOne Landscape Supply by 32.2% during the 3rd quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 97 shares during the period. NewEdge Advisors LLC boosted its position in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 107 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of SiteOne Landscape Supply by 276.5% in 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. Finally, Tower Research Capital LLC TRC grew its holdings in shares of SiteOne Landscape Supply by 145.2% in 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SITE shares. Bank of America assumed coverage on shares of SiteOne Landscape Supply in a report on Thursday, December 18th. They issued a “buy” rating and a $147.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, January 21st. Stifel Nicolaus set a $144.00 price objective on SiteOne Landscape Supply in a report on Monday, February 9th. Robert W. Baird set a $190.00 target price on SiteOne Landscape Supply in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada lifted their target price on SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $159.44.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Eric J. Elema sold 1,765 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $158.01, for a total transaction of $278,887.65. Following the completion of the transaction, the executive vice president directly owned 2,911 shares in the company, valued at $459,967.11. This trade represents a 37.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

SiteOne Landscape Supply Stock Down 3.1%

SiteOne Landscape Supply stock opened at $146.78 on Tuesday. The company has a market capitalization of $6.53 billion, a PE ratio of 43.68, a price-to-earnings-growth ratio of 1.93 and a beta of 1.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.20 and a current ratio of 2.47. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $168.56. The firm has a 50 day moving average price of $141.19 and a 200 day moving average price of $135.24.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned ($0.48) earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. Research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current 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.