Jackson Square Partners LLC Decreases Stake in SiteOne Landscape Supply, Inc. $SITE

Jackson Square Partners LLC trimmed its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 83.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,448 shares of the industrial products company’s stock after selling 147,307 shares during the quarter. Jackson Square Partners LLC owned about 0.07% of SiteOne Landscape Supply worth $3,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of SiteOne Landscape Supply by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company’s stock worth $738,309,000 after buying an additional 660,081 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in SiteOne Landscape Supply by 31.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company’s stock valued at $254,143,000 after acquiring an additional 494,737 shares during the period. Ameriprise Financial Inc. lifted its holdings in SiteOne Landscape Supply by 21.3% in the first quarter. Ameriprise Financial Inc. now owns 773,358 shares of the industrial products company’s stock valued at $93,913,000 after acquiring an additional 135,949 shares during the period. Geneva Capital Management LLC boosted its position in SiteOne Landscape Supply by 7.2% in the 2nd quarter. Geneva Capital Management LLC now owns 760,186 shares of the industrial products company’s stock worth $91,937,000 after purchasing an additional 50,915 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of SiteOne Landscape Supply by 3.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 666,259 shares of the industrial products company’s stock worth $80,577,000 after purchasing an additional 20,055 shares during the period.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays raised their price target on shares of SiteOne Landscape Supply from $106.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. The Goldman Sachs Group cut their price target on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Zacks Research downgraded SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th. Wall Street Zen raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average target price of $150.70.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $122.87 on Friday. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 1.98 and a beta of 1.60. The business’s 50 day moving average price is $130.32 and its 200 day moving average price is $127.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.14 and a current ratio of 2.49.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.09. SiteOne Landscape Supply had a net margin of 2.98% and a return on equity of 8.62%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current 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.