State of New Jersey Common Pension Fund D Sells 11,135 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

State of New Jersey Common Pension Fund D decreased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 39.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,899 shares of the industrial products company’s stock after selling 11,135 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SiteOne Landscape Supply were worth $2,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MJP Associates Inc. ADV boosted its position in SiteOne Landscape Supply by 5.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 1,707 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 92 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of SiteOne Landscape Supply by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,018 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 98 shares in the last quarter. Equitable Trust Co. grew its stake in SiteOne Landscape Supply by 3.0% in the second quarter. Equitable Trust Co. now owns 3,558 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 103 shares during the period. iA Global Asset Management Inc. raised its holdings in SiteOne Landscape Supply by 7.9% in the first quarter. iA Global Asset Management Inc. now owns 1,741 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 127 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its position in SiteOne Landscape Supply by 3.5% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 4,341 shares of the industrial products company’s stock valued at $527,000 after buying an additional 148 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SITE. UBS Group reduced their target price on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Barclays decreased their target price on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Loop Capital dropped their price target on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. Robert W. Baird reduced their price objective on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com downgraded SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $144.33.

SiteOne Landscape Supply Stock Down 2.8 %

SITE stock opened at $149.19 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.47 and a quick ratio of 1.10. 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 capitalization of $6.73 billion, a P/E ratio of 43.24 and a beta of 1.53. The business has a fifty day moving average price of $138.72 and a 200-day moving average price of $148.00.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.13. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 EPS. Equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.19 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 878 shares of SiteOne Landscape Supply stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the completion of the sale, the director now owns 11,267 shares of the company’s stock, valued at approximately $1,453,893.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.70% of the stock is owned by insiders.

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.