Norges Bank Makes New Investment in SiteOne Landscape Supply, Inc. $SITE

Norges Bank acquired a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 151,935 shares of the industrial products company’s stock, valued at approximately $18,925,000. Norges Bank owned 0.34% of SiteOne Landscape Supply as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wasatch Advisors LP grew its stake in 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 during the period. Bamco Inc. NY lifted its position in shares of SiteOne Landscape Supply by 1.3% during the third quarter. Bamco Inc. NY now owns 1,966,876 shares of the industrial products company’s stock worth $253,334,000 after purchasing an additional 25,059 shares in the last quarter. 59 North Capital Management LP acquired a new position in shares of SiteOne Landscape Supply during the third quarter worth $214,417,000. Capital World Investors lifted its position in shares of SiteOne Landscape Supply by 3.3% during the third quarter. Capital World Investors now owns 1,016,671 shares of the industrial products company’s stock worth $130,947,000 after purchasing an additional 32,682 shares in the last quarter. Finally, State Street Corp lifted its position in shares of SiteOne Landscape Supply by 1.7% during the second quarter. State Street Corp now owns 777,354 shares of the industrial products company’s stock worth $94,013,000 after purchasing an additional 12,766 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Robert W. Baird set a $160.00 target price on shares of SiteOne Landscape Supply in a research report on Thursday, April 30th. Bank of America reduced their target price on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Thursday, April 30th. Royal Bank Of Canada boosted their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Truist Financial boosted their target price on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $160.10.

SiteOne Landscape Supply Trading Up 5.1%

SITE opened at $107.24 on Wednesday. The stock has a market capitalization of $4.75 billion, a PE ratio of 31.82, a P/E/G ratio of 1.33 and a beta of 1.35. The firm’s fifty day moving average price is $124.14 and its 200 day moving average price is $132.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. SiteOne Landscape Supply, Inc. has a 12-month low of $100.52 and a 12-month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The company had revenue of $940.10 million during the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.61) earnings per share. As a group, research analysts expect that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 562 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $112.52, for a total value of $63,236.24. Following the sale, the director directly owned 11,267 shares of the company’s stock, valued at $1,267,762.84. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Company Profile

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.