Jupiter Topco LLC Acquires New Stake in SiteOne Landscape Supply, Inc. $SITE

Jupiter Topco LLC acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 520,229 shares of the industrial products company’s stock, valued at approximately $59,521,000. Jupiter Topco LLC owned approximately 1.19% of SiteOne Landscape Supply as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SITE. Wasatch Advisors LP grew its holdings in shares of SiteOne Landscape Supply by 11.4% during the third quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company’s stock worth $280,455,000 after buying an additional 222,959 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of SiteOne Landscape Supply by 3.1% in the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after buying an additional 61,490 shares in the last quarter. BlackRock Inc. acquired a new position in SiteOne Landscape Supply during the second quarter worth about $221,355,000. Capital World Investors boosted its position in SiteOne Landscape Supply by 37.9% during the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock worth $174,675,000 after acquiring an additional 385,666 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in SiteOne Landscape Supply by 2.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock worth $147,313,000 after acquiring an additional 31,684 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have commented on SITE shares. UBS Group cut their price objective on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Barclays dropped their price target on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 price target (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. KeyCorp reduced their price objective on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Finally, Truist Financial lowered their price objective on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $135.27.

Insider Activity

In other news, CEO Doug Black purchased 8,000 shares of SiteOne Landscape Supply stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average price of $102.03 per share, with a total value of $816,240.00. Following the transaction, the chief executive officer owned 8,000 shares in the company, valued at $816,240. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Price Performance

SiteOne Landscape Supply stock opened at $95.40 on Friday. SiteOne Landscape Supply, Inc. has a 12-month low of $90.07 and a 12-month high of $168.56. The stock has a market cap of $4.16 billion, a P/E ratio of 26.14, a PEG ratio of 1.39 and a beta of 1.35. The company has a 50-day moving average price of $103.00 and a 200 day moving average price of $120.03. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.SiteOne Landscape Supply’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.86 earnings per share. Sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.93 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.