VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in SiteOne Landscape Supply, Inc. $SITE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 18,000 shares of the industrial products company’s stock, valued at approximately $2,059,000.

Several other large investors have also recently made changes to their positions in the company. Bamco Inc. NY lifted its holdings in SiteOne Landscape Supply by 3.1% in the 4th quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock valued at $252,653,000 after purchasing an additional 61,490 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of SiteOne Landscape Supply in the second quarter valued at about $3,059,000. Summit Creek Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 22.1% in the fourth quarter. Summit Creek Advisors LLC now owns 73,442 shares of the industrial products company’s stock worth $9,148,000 after buying an additional 13,312 shares in the last quarter. Norges Bank purchased a new position in shares of SiteOne Landscape Supply in the fourth quarter worth about $18,925,000. Finally, Legal & General Group Plc acquired a new position in SiteOne Landscape Supply during the second quarter worth about $4,281,000.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black purchased 8,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the acquisition, the chief executive officer owned 8,000 shares in the company, valued at $816,240. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SITE has been the subject of a number of recent research reports. Barclays cut their price objective on shares of SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded SiteOne Landscape Supply from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Truist Financial cut their price target on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada reduced their price objective on SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Finally, Robert W. Baird lowered their price objective on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $135.27.

SiteOne Landscape Supply Stock Down 1.9%

Shares of NYSE SITE opened at $92.97 on Friday. The company has a market capitalization of $4.06 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.37 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The company has a 50 day simple moving average of $99.96 and a 200-day simple moving average of $115.95. SiteOne Landscape Supply, Inc. has a 1 year low of $90.07 and a 1 year high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.86 earnings per share. On average, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape, irrigation, and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, golf course professionals, green-industry businesses, municipalities, and other commercial customers through a network of local branches and distribution facilities.

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.