Edgestream Partners L.P. Makes New Investment in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Edgestream Partners L.P. bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,401 shares of the industrial products company’s stock, valued at approximately $1,721,000.

A number of other institutional investors have also recently made changes to their positions in SITE. Bank of New York Mellon Corp boosted its stake in SiteOne Landscape Supply by 49.3% during the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock worth $58,226,000 after buying an additional 158,350 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of SiteOne Landscape Supply by 130.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock worth $24,065,000 after purchasing an additional 112,362 shares during the period. American Century Companies Inc. grew its holdings in SiteOne Landscape Supply by 44.3% during the 2nd quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company’s stock valued at $43,717,000 after purchasing an additional 110,589 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in SiteOne Landscape Supply in the 2nd quarter worth about $7,540,000. Finally, Dimensional Fund Advisors LP lifted its stake in SiteOne Landscape Supply by 10.3% in the second quarter. Dimensional Fund Advisors LP now owns 568,349 shares of the industrial products company’s stock worth $69,007,000 after purchasing an additional 53,131 shares during the last quarter.

SiteOne Landscape Supply Price Performance

Shares of SITE opened at $151.07 on Wednesday. The stock has a market capitalization of $6.82 billion, a PE ratio of 48.89 and a beta of 1.54. The company has a 50 day moving average price of $146.44 and a 200-day moving average price of $140.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $1.25 EPS. SiteOne Landscape Supply’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SITE shares. Barclays upped their target price on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Robert W. Baird increased their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They set a “neutral” rating and a $158.00 target price for the company. Finally, StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $147.80.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total transaction of $924,300.00. Following the transaction, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. The trade was a 33.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

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.