Canada Pension Plan Investment Board Acquires New Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Canada Pension Plan Investment Board acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 62,100 shares of the industrial products company’s stock, valued at approximately $7,540,000. Canada Pension Plan Investment Board owned approximately 0.14% of SiteOne Landscape Supply at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank bought a new stake in SiteOne Landscape Supply in the 1st quarter valued at $29,000. Principal Securities Inc. bought a new stake in SiteOne Landscape Supply during the 4th quarter worth about $31,000. Whittier Trust Co. of Nevada Inc. bought a new stake in SiteOne Landscape Supply during the 2nd quarter worth about $27,000. Benjamin F. Edwards & Company Inc. lifted its position in SiteOne Landscape Supply by 588.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after buying an additional 247 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in SiteOne Landscape Supply during the 1st quarter worth about $58,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird dropped their target price on shares of SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. UBS Group dropped 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 report on Tuesday, July 9th. StockNews.com cut shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, Barclays dropped their target price on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $144.33.

Insider Transactions at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 878 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $129.04, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by insiders.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE opened at $150.46 on Wednesday. The company’s 50 day moving average price is $139.16 and its two-hundred day moving average price is $147.21. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month high of $188.01. The firm has a market cap of $6.80 billion, a PE ratio of 43.61 and a beta of 1.53. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business posted $2.71 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.19 earnings per share for the current 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.