Oppenheimer Asset Management Inc. Takes $3.06 Million Position in SiteOne Landscape Supply, Inc. $SITE

Oppenheimer Asset Management Inc. purchased a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 2nd quarter, Holdings Channel reports. The fund purchased 26,740 shares of the industrial products company’s stock, valued at approximately $3,059,000.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of SiteOne Landscape Supply by 45.9% during the first quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock worth $9,126,000 after buying an additional 23,657 shares during the last quarter. NewEdge Advisors LLC increased its position in SiteOne Landscape Supply by 36.6% in 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 period. Goldman Sachs Group Inc. raised its stake in shares of SiteOne Landscape Supply by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock valued at $25,907,000 after acquiring an additional 11,574 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of SiteOne Landscape Supply by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock valued at $20,679,000 after acquiring an additional 16,378 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of SiteOne Landscape Supply during the first quarter worth $6,797,000.

SiteOne Landscape Supply Trading Up 0.8%

Shares of SITE stock opened at $98.53 on Friday. The company has a market cap of $4.30 billion, a P/E ratio of 26.99, a PEG ratio of 1.43 and a beta of 1.35. The stock has a 50 day simple moving average of $104.86 and a two-hundred day simple moving average of $123.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. SiteOne Landscape Supply, Inc. has a fifty-two week low of $90.07 and a fifty-two week high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.22). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.86 EPS. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Doug Black purchased 8,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was purchased at an average cost of $102.03 per share, with a total value of $816,240.00. Following the completion of the purchase, the chief executive officer owned 8,000 shares in the company, valued at approximately $816,240. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fred M. Diaz sold 563 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total transaction of $64,818.19. Following the completion of the sale, the director directly owned 11,829 shares of the company’s stock, valued at approximately $1,361,872.77. This trade represents a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Thursday, April 30th. Truist Financial cut their target price on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. KeyCorp cut their target price on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Robert W. Baird reduced their price target on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Zacks Research cut SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $135.27.

SiteOne Landscape Supply 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.