Bridges Investment Management Inc. Buys New Shares in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bridges Investment Management Inc. purchased a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,861 shares of the industrial products company’s stock, valued at approximately $226,000.

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

Insider Transactions at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 878 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $129.04, for a total value of $113,297.12. Following the transaction, the director now owns 11,267 shares in the company, valued at $1,453,893.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SITE. Royal Bank of Canada dropped their price target on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Barclays decreased their price target on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Truist Financial increased their price objective on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. 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 note on Tuesday, July 9th. Finally, Robert W. Baird dropped their target price on shares of 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.33.

SiteOne Landscape Supply Trading Down 2.8 %

SITE opened at $149.18 on Monday. 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 $6.74 billion, a PE ratio of 43.24 and a beta of 1.53. The company has a current ratio of 2.47, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $138.72 and a two-hundred day moving average price of $147.65.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted $2.71 earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.19 earnings per share 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.