Algert Global LLC Grows Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

by · The Markets Daily

Algert Global LLC lifted its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE – Free Report) by 375.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,506 shares of the industrial products company’s stock after buying an additional 23,300 shares during the period. Algert Global LLC’s holdings in SiteOne Landscape Supply were worth $4,453,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Conestoga Capital Advisors LLC grew its holdings in SiteOne Landscape Supply by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,141,624 shares of the industrial products company’s stock valued at $138,605,000 after purchasing an additional 28,265 shares in the last quarter. Geneva Capital Management LLC grew its stake in shares of SiteOne Landscape Supply by 1.5% during the third quarter. Geneva Capital Management LLC now owns 626,101 shares of the industrial products company’s stock valued at $94,485,000 after acquiring an additional 9,209 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SiteOne Landscape Supply by 10.3% during the second quarter. Dimensional Fund Advisors LP now owns 568,349 shares of the industrial products company’s stock worth $69,007,000 after acquiring an additional 53,131 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SiteOne Landscape Supply by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 537,998 shares of the industrial products company’s stock worth $81,189,000 after acquiring an additional 20,357 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in SiteOne Landscape Supply by 49.3% in the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock valued at $58,226,000 after purchasing an additional 158,350 shares during the last quarter.

Insider Buying and Selling

In related news, EVP Joseph Ketter sold 6,500 shares of SiteOne Landscape Supply stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the transaction, the executive vice president now owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. This trade represents a 33.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Stock Performance

SITE opened at $148.77 on Monday. SiteOne Landscape Supply, Inc. has a twelve month low of $114.60 and a twelve month high of $188.01. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.71 billion, a PE ratio of 48.15 and a beta of 1.53. The business’s 50 day moving average is $145.80 and its 200-day moving average is $140.50.

SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on SITE. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group assumed coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target for the company. Robert W. Baird increased their price objective on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial boosted their target price on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target on the stock. in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $147.80.

View Our Latest Stock Analysis on SITE

SiteOne Landscape Supply Company Profile

(Free Report)

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.

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