American Century Companies Inc. lowered its position in SiteOne Landscape Supply Inc (NYSE:SITE) by 23.7% during the first quarter, HoldingsChannel.com reports. The fund owned 118,978 shares of the industrial products company’s stock after selling 36,901 shares during the quarter. American Century Companies Inc.’s holdings in SiteOne Landscape Supply were worth $9,166,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SITE. Dimensional Fund Advisors LP acquired a new stake in shares of SiteOne Landscape Supply in the 3rd quarter worth approximately $4,291,000. Schwab Charles Investment Management Inc. lifted its stake in SiteOne Landscape Supply by 5.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 179,961 shares of the industrial products company’s stock valued at $13,804,000 after buying an additional 9,073 shares in the last quarter. GW&K Investment Management LLC lifted its stake in SiteOne Landscape Supply by 41.3% in the 4th quarter. GW&K Investment Management LLC now owns 151,194 shares of the industrial products company’s stock valued at $11,597,000 after buying an additional 44,225 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in SiteOne Landscape Supply in the 4th quarter valued at approximately $37,307,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in SiteOne Landscape Supply in the 4th quarter valued at approximately $831,000.
Shares of SiteOne Landscape Supply stock opened at $80.80 on Monday. SiteOne Landscape Supply Inc has a fifty-two week low of $48.19 and a fifty-two week high of $81.64. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 66.78 and a beta of 1.44. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.99 and a current ratio of 2.48.
SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, May 2nd. The industrial products company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). SiteOne Landscape Supply had a return on equity of 22.27% and a net margin of 2.53%. The business had revenue of $371.40 million for the quarter, compared to analysts’ expectations of $374.41 million. During the same period in the prior year, the company earned ($0.26) EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. analysts expect that SiteOne Landscape Supply Inc will post 1.92 earnings per share for the current fiscal year.
SITE has been the topic of a number of recent research reports. Deutsche Bank upped their target price on SiteOne Landscape Supply from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Royal Bank of Canada set a $87.00 target price on SiteOne Landscape Supply and gave the company a “buy” rating in a research note on Monday, March 26th. UBS lowered SiteOne Landscape Supply from a “neutral” rating to a “sell” rating and set a $72.00 target price on the stock. in a research note on Monday, January 22nd. They noted that the move was a valuation call. William Blair raised SiteOne Landscape Supply from a “market perform” rating to an “outperform” rating in a research note on Friday, January 26th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $67.00 target price (up previously from $65.00) on shares of SiteOne Landscape Supply in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.17.
In other SiteOne Landscape Supply news, EVP Pascal Convers sold 30,000 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $80.73, for a total transaction of $2,421,900.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP L Briley Brisendine, Jr. sold 1,600 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $72.02, for a total value of $115,232.00. Following the transaction, the executive vice president now directly owns 33,861 shares in the company, valued at approximately $2,438,669.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,581 shares of company stock worth $7,912,316. Corporate insiders own 4.40% of the company’s stock.
About SiteOne Landscape Supply
SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.
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