AMI Asset Management Corp Reduces Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

AMI Asset Management Corp reduced its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,213 shares of the industrial products company’s stock after selling 163 shares during the period. AMI Asset Management Corp’s holdings in SiteOne Landscape Supply were worth $555,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SITE. Barclays PLC increased its holdings in shares of SiteOne Landscape Supply by 71.2% during the 3rd quarter. Barclays PLC now owns 48,398 shares of the industrial products company’s stock worth $7,304,000 after buying an additional 20,134 shares during the last quarter. Holocene Advisors LP increased its position in shares of SiteOne Landscape Supply by 38.2% during the third quarter. Holocene Advisors LP now owns 51,625 shares of the industrial products company’s stock worth $7,791,000 after acquiring an additional 14,269 shares during the last quarter. Algert Global LLC lifted its stake in shares of SiteOne Landscape Supply by 375.4% in the third quarter. Algert Global LLC now owns 29,506 shares of the industrial products company’s stock worth $4,453,000 after acquiring an additional 23,300 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in SiteOne Landscape Supply by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,026 shares of the industrial products company’s stock worth $1,217,000 after purchasing an additional 447 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of SiteOne Landscape Supply during the 2nd quarter valued at approximately $449,000.

SiteOne Landscape Supply Stock Performance

SITE opened at $143.00 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $140.46 and its 200-day simple moving average is $140.52. SiteOne Landscape Supply, Inc. has a 1 year low of $114.60 and a 1 year high of $188.01. The stock has a market cap of $6.45 billion, a PE ratio of 46.28 and a beta of 1.56.

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 (EPS) 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 during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 2.94 EPS for the current year.

Insider Activity at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the transaction, the executive vice president now owns 12,942 shares in the company, valued at approximately $1,840,352.40. The trade was a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their price objective for the company from $145.00 to $175.00 in a research note on Friday, December 6th. Barclays upped their price target on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. StockNews.com downgraded SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Monday. Finally, The Goldman Sachs Group assumed coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply has a consensus rating of “Hold” and an average target price of $156.44.

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.