Kornitzer Capital Management Inc. KS Buys Shares of 33,900 SiteOne Landscape Supply, Inc. (NYSE:SITE)

Kornitzer Capital Management Inc. KS bought a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,900 shares of the industrial products company’s stock, valued at approximately $4,116,000. Kornitzer Capital Management Inc. KS owned approximately 0.08% of SiteOne Landscape Supply at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of SiteOne Landscape Supply during the second quarter worth $27,000. Toronto Dominion Bank acquired a new position in SiteOne Landscape Supply in the 1st quarter worth about $29,000. Principal Securities Inc. bought a new position in SiteOne Landscape Supply in the fourth quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of SiteOne Landscape Supply by 588.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 247 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in shares of SiteOne Landscape Supply during the first quarter worth about $58,000.

Insider Activity

In related news, Director Fred M. Diaz sold 878 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the transaction, the director now directly owns 11,267 shares of the company’s stock, valued at approximately $1,453,893.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SITE shares. Robert W. Baird lowered their target price on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Truist Financial lifted their target price on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com cut SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Finally, Stifel Nicolaus lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and an average target price of $144.33.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $134.71 on Friday. The company has a market cap of $6.08 billion, a PE ratio of 39.10 and a beta of 1.53. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36. SiteOne Landscape Supply, Inc. has a 52 week low of $114.60 and a 52 week high of $188.01. The business has a 50 day moving average price of $133.86 and a 200-day moving average price of $150.09.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.13. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $2.71 EPS. Equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.19 earnings per share for the current fiscal year.

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.