Motley Fool Asset Management LLC Acquires New Shares in SiteOne Landscape Supply, Inc. $SITE

Motley Fool Asset Management LLC acquired a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 39,394 shares of the industrial products company’s stock, valued at approximately $4,764,000.

A number of other institutional investors also recently added to or reduced their stakes in SITE. GAMMA Investing LLC boosted its position in SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 95 shares during the period. Golden State Wealth Management LLC boosted its position in SiteOne Landscape Supply by 106.1% during the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 139 shares during the period. KBC Group NV boosted its position in SiteOne Landscape Supply by 351.3% during the 1st quarter. KBC Group NV now owns 8,787 shares of the industrial products company’s stock worth $1,067,000 after acquiring an additional 6,840 shares during the period. DAVENPORT & Co LLC boosted its position in SiteOne Landscape Supply by 1.4% during the 1st quarter. DAVENPORT & Co LLC now owns 11,121 shares of the industrial products company’s stock worth $1,351,000 after acquiring an additional 153 shares during the period. Finally, WCM Investment Management LLC boosted its position in SiteOne Landscape Supply by 0.4% during the 1st quarter. WCM Investment Management LLC now owns 131,791 shares of the industrial products company’s stock worth $16,065,000 after acquiring an additional 474 shares during the period.

Analysts Set New Price Targets

A number of research analysts have issued reports on SITE shares. Zacks Research lowered SiteOne Landscape Supply from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. William Blair reiterated a “market perform” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 15th. The Goldman Sachs Group reduced their price target on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $148.50.

SiteOne Landscape Supply Trading Down 0.6%

Shares of SiteOne Landscape Supply stock opened at $124.33 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 2.31 and a beta of 1.59. The business has a fifty day simple moving average of $133.36 and a 200-day simple moving average of $127.03. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.63 EPS. On average, equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

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.