Sandhill Capital Partners LLC Has $42 Million Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Sandhill Capital Partners LLC boosted its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 0.7% in the fourth quarter, Holdings Channel reports. The fund owned 258,480 shares of the industrial products company’s stock after acquiring an additional 1,796 shares during the period. SiteOne Landscape Supply accounts for 3.5% of Sandhill Capital Partners LLC’s investment portfolio, making the stock its 13th biggest holding. Sandhill Capital Partners LLC’s holdings in SiteOne Landscape Supply were worth $42,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in SiteOne Landscape Supply during the 3rd quarter worth $26,000. Operose Advisors LLC acquired a new position in SiteOne Landscape Supply during the 3rd quarter worth $28,000. Impact Partnership Wealth LLC acquired a new position in shares of SiteOne Landscape Supply during the third quarter valued at about $30,000. GAMMA Investing LLC acquired a new position in shares of SiteOne Landscape Supply during the fourth quarter valued at about $38,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of SiteOne Landscape Supply during the third quarter valued at about $105,000.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded down $1.09 during trading hours on Thursday, reaching $162.67. 272,232 shares of the company were exchanged, compared to its average volume of 297,855. SiteOne Landscape Supply, Inc. has a fifty-two week low of $116.81 and a fifty-two week high of $188.01. The stock’s fifty day moving average is $170.76 and its two-hundred day moving average is $156.78. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 42.60 and a beta of 1.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.43 and a quick ratio of 1.10.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $942.21 million. During the same period in the prior year, the business earned ($0.02) earnings per share. SiteOne Landscape Supply’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In other news, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the sale, the chief financial officer now directly owns 15,467 shares in the company, valued at $2,784,060. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Doug Black sold 10,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,000 shares of company stock worth $3,924,500. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

SITE has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Barclays upped their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research note on Thursday, February 15th. Loop Capital cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Robert W. Baird upped their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, Truist Financial upped their price objective on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $172.88.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.