Verdence Capital Advisors LLC Raises Stock Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Verdence Capital Advisors LLC raised its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,950 shares of the industrial products company’s stock after buying an additional 165 shares during the quarter. Verdence Capital Advisors LLC’s holdings in SiteOne Landscape Supply were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SITE. Townsquare Capital LLC increased its holdings in shares of SiteOne Landscape Supply by 1.1% in the third quarter. Townsquare Capital LLC now owns 6,838 shares of the industrial products company’s stock valued at $1,118,000 after purchasing an additional 74 shares during the period. Johnson Investment Counsel Inc. increased its holdings in shares of SiteOne Landscape Supply by 0.9% in the third quarter. Johnson Investment Counsel Inc. now owns 9,456 shares of the industrial products company’s stock valued at $1,546,000 after purchasing an additional 80 shares during the period. Kestra Advisory Services LLC increased its holdings in shares of SiteOne Landscape Supply by 5.4% in the third quarter. Kestra Advisory Services LLC now owns 1,717 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 88 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of SiteOne Landscape Supply by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 19,518 shares of the industrial products company’s stock valued at $3,190,000 after purchasing an additional 100 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of SiteOne Landscape Supply by 11.6% in the third quarter. SG Americas Securities LLC now owns 1,093 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 114 shares during the period.

Insider Activity

In other news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the sale, the chief financial officer now directly owns 15,467 shares in the company, valued at $2,784,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the sale, the chief executive officer now directly owns 574,657 shares in the company, valued at $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the sale, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock worth $3,924,500 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SITE. Loop Capital lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Robert W. Baird upped their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Barclays upped their price objective on SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a report on Thursday, February 15th. Royal Bank of Canada upped their price objective on SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their price objective on SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, SiteOne Landscape Supply has an average rating of “Hold” and an average price target of $172.88.

SiteOne Landscape Supply Stock Up 3.5 %

SITE opened at $162.55 on Wednesday. The business’s fifty day moving average is $170.82 and its two-hundred day moving average is $156.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.43. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 43.00 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a one year low of $116.81 and a one year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. SiteOne Landscape Supply had a return on equity of 12.13% and a net margin of 4.03%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $942.21 million. During the same period in the previous year, the business earned ($0.02) earnings per share. SiteOne Landscape Supply’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.04 EPS for the current fiscal year.

SiteOne Landscape Supply 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.