SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 11.3% during the third quarter, HoldingsChannel.com reports. The fund owned 3,168 shares of the industrial products company’s stock after selling 405 shares during the period. Principal Financial Group Inc.’s holdings in SiteOne Landscape Supply were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of SITE. Malaga Cove Capital LLC raised its stake in shares of SiteOne Landscape Supply by 29.2% during the third quarter. Malaga Cove Capital LLC now owns 7,533 shares of the industrial products company’s stock worth $1,137,000 after purchasing an additional 1,704 shares during the last quarter. Van ECK Associates Corp raised its position in SiteOne Landscape Supply by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 23,984 shares of the industrial products company’s stock worth $3,338,000 after buying an additional 6,853 shares during the last quarter. Fort Pitt Capital Group LLC lifted its stake in shares of SiteOne Landscape Supply by 49.5% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 7,781 shares of the industrial products company’s stock worth $1,174,000 after acquiring an additional 2,576 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of SiteOne Landscape Supply by 2.5% in the third quarter. Janney Montgomery Scott LLC now owns 36,504 shares of the industrial products company’s stock valued at $5,509,000 after acquiring an additional 878 shares in the last quarter. Finally, Pembroke Management LTD increased its stake in shares of SiteOne Landscape Supply by 15.3% during the third quarter. Pembroke Management LTD now owns 211,516 shares of the industrial products company’s stock worth $31,920,000 after acquiring an additional 28,117 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SITE shares. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Stifel Nicolaus downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target on the stock. in a research note on Thursday, August 1st. Robert W. Baird increased their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group started coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 target price for the company. Finally, Barclays upped their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $147.80.

SiteOne Landscape Supply Trading Up 3.9 %

Shares of SITE stock opened at $148.77 on Monday. The stock has a market cap of $6.71 billion, a P/E ratio of 48.15 and a beta of 1.53. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The business has a fifty day simple moving average of $145.80 and a 200-day simple moving average of $140.50.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $1.25 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the 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 sale, the executive vice president now owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.