SiteOne Landscape Supply, Inc. $SITE Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 5.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 380,379 shares of the industrial products company’s stock after selling 22,381 shares during the quarter. Bank of New York Mellon Corp’s holdings in SiteOne Landscape Supply were worth $46,003,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. NewEdge Advisors LLC increased its stake in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares in the last quarter. Deutsche Bank AG lifted its stake in SiteOne Landscape Supply by 3.9% during the first quarter. Deutsche Bank AG now owns 3,228 shares of the industrial products company’s stock valued at $392,000 after buying an additional 121 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of SiteOne Landscape Supply by 49.5% in the second quarter. Parallel Advisors LLC now owns 562 shares of the industrial products company’s stock worth $68,000 after buying an additional 186 shares during the period. Crown Oak Advisors LLC increased its position in shares of SiteOne Landscape Supply by 0.3% in the second quarter. Crown Oak Advisors LLC now owns 55,670 shares of the industrial products company’s stock worth $6,733,000 after acquiring an additional 194 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in shares of SiteOne Landscape Supply by 10.2% in the second quarter. Atria Wealth Solutions Inc. now owns 2,367 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 220 shares in the last quarter.

Wall Street Analysts Forecast Growth

SITE has been the subject of several research analyst reports. Royal Bank Of Canada upped their price target on shares of SiteOne Landscape Supply from $143.00 to $151.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. The Goldman Sachs Group reduced their target price on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. William Blair reissued a “market perform” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 15th. Finally, Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $150.70.

SiteOne Landscape Supply Trading Up 1.1%

NYSE SITE opened at $125.14 on Wednesday. The company has a current ratio of 2.49, a quick ratio of 1.14 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74. The firm’s fifty day simple moving average is $129.59 and its 200-day simple moving average is $128.10. The company has a market capitalization of $5.57 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.60.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

SiteOne Landscape Supply 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.