Jennison Associates LLC Increases Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Jennison Associates LLC grew its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 11.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 121,559 shares of the industrial products company’s stock after buying an additional 12,442 shares during the quarter. Jennison Associates LLC owned 0.27% of SiteOne Landscape Supply worth $19,753,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Duality Advisers LP boosted its stake in shares of SiteOne Landscape Supply by 154.5% in the 4th quarter. Duality Advisers LP now owns 4,360 shares of the industrial products company’s stock valued at $708,000 after buying an additional 2,647 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of SiteOne Landscape Supply by 10.8% in the 4th quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company’s stock valued at $37,251,000 after buying an additional 22,400 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of SiteOne Landscape Supply by 9.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,950 shares of the industrial products company’s stock valued at $317,000 after buying an additional 165 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SiteOne Landscape Supply by 8.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,838 shares of the industrial products company’s stock valued at $1,599,000 after buying an additional 752 shares during the period. Finally, Crown Oak Advisors LLC purchased a new position in shares of SiteOne Landscape Supply in the 4th quarter valued at about $7,917,000.

SiteOne Landscape Supply Trading Down 0.7 %

SITE opened at $162.67 on Friday. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 43.03 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 52 week low of $116.81 and a 52 week high of $188.01. The business’s 50 day moving average is $170.65 and its two-hundred day moving average is $156.83. The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29.

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

Insider Activity

In other news, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John T. Guthrie sold 3,000 shares of SiteOne Landscape Supply stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 23,000 shares of company stock valued at $3,924,500. Company insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price objective on SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada boosted their target price on SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Barclays boosted their target price on SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a research note on Thursday, February 15th. Loop Capital cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Robert W. Baird boosted their target price on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $172.88.

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.