Allspring Global Investments Holdings LLC Sells 31,605 Shares of SiteOne Landscape Supply, Inc. $SITE

Allspring Global Investments Holdings LLC decreased its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 336,636 shares of the industrial products company’s stock after selling 31,605 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.75% of SiteOne Landscape Supply worth $42,507,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SITE. HM Payson & Co. acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC raised its holdings in SiteOne Landscape Supply by 106.1% during the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock worth $33,000 after buying an additional 139 shares during the period. Eastern Bank acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $38,000. Finally, NewEdge Advisors LLC raised its holdings in SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after buying an additional 107 shares during the period.

SiteOne Landscape Supply Price Performance

NYSE:SITE opened at $124.04 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $136.14 and a 200 day simple moving average of $126.39. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74. The stock has a market capitalization of $5.53 billion, a PE ratio of 45.27, a P/E/G ratio of 2.04 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.03). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm earned $2.63 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction on Friday, July 25th. The shares were sold at an average price of $132.09, for a total transaction of $975,352.56. Following the completion of the transaction, the chief executive officer directly owned 600,446 shares of the company’s stock, valued at $79,312,912.14. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on SITE. Loop Capital upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their target price for the stock from $150.00 to $160.00 in a report on Friday, September 19th. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. The Goldman Sachs Group lowered their price objective on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their price objective on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average target price of $148.50.

SiteOne Landscape Supply Company 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.