Polen Capital Management LLC Has $3.47 Million Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Polen Capital Management LLC lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 9.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,333 shares of the industrial products company’s stock after selling 2,128 shares during the period. Polen Capital Management LLC’s holdings in SiteOne Landscape Supply were worth $3,467,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SITE. Conestoga Capital Advisors LLC boosted its position in SiteOne Landscape Supply by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,104,494 shares of the industrial products company’s stock worth $179,480,000 after purchasing an additional 6,620 shares during the period. Jackson Square Partners LLC boosted its position in SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock worth $131,588,000 after purchasing an additional 165,067 shares during the period. Allianz Asset Management GmbH boosted its position in shares of SiteOne Landscape Supply by 14.7% in the fourth quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock valued at $129,724,000 after acquiring an additional 102,207 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of SiteOne Landscape Supply by 14.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 586,629 shares of the industrial products company’s stock valued at $95,327,000 after acquiring an additional 75,698 shares during the period. Finally, Geneva Capital Management LLC boosted its position in shares of SiteOne Landscape Supply by 9.4% in the fourth quarter. Geneva Capital Management LLC now owns 560,027 shares of the industrial products company’s stock valued at $91,004,000 after acquiring an additional 48,128 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SITE shares. Stifel Nicolaus reduced their price objective on SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Barclays decreased their price target on shares of SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 5th. Truist Financial decreased their price target on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Robert W. Baird decreased their price target on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Loop Capital cut their price objective on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $153.63.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by company insiders.

SiteOne Landscape Supply Price Performance

Shares of SiteOne Landscape Supply stock traded down $0.80 during trading on Friday, reaching $131.29. The company’s stock had a trading volume of 305,691 shares, compared to its average volume of 331,210. The stock has a 50-day moving average price of $153.79 and a two-hundred day moving average price of $159.48. The company has a current ratio of 2.36, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply, Inc. has a one year low of $116.81 and a one year high of $188.01. The stock has a market capitalization of $5.94 billion, a P/E ratio of 38.06 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The business had revenue of $904.80 million during the quarter, compared to the consensus estimate of $864.01 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.81 EPS for the current fiscal year.

About SiteOne Landscape Supply

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.