Principal Financial Group Inc. Trims Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Principal Financial Group Inc. lowered its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,168 shares of the industrial products company’s stock after selling 405 shares during the quarter. Principal Financial Group Inc.’s holdings in SiteOne Landscape Supply were worth $478,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SITE. Oddo BHF Asset Management Sas purchased a new stake in shares of SiteOne Landscape Supply in the third quarter valued at $1,099,000. Synovus Financial Corp boosted its stake in SiteOne Landscape Supply by 12.0% in the 3rd quarter. Synovus Financial Corp now owns 1,954 shares of the industrial products company’s stock worth $295,000 after buying an additional 209 shares during the last quarter. Tidal Investments LLC grew its holdings in SiteOne Landscape Supply by 1.5% in the 3rd quarter. Tidal Investments LLC now owns 5,166 shares of the industrial products company’s stock valued at $780,000 after buying an additional 77 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at about $71,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of SiteOne Landscape Supply by 6.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,108 shares of the industrial products company’s stock worth $2,099,000 after acquiring an additional 797 shares during the period.

Insider Activity

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $130.33 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. SiteOne Landscape Supply, Inc. has a 1 year low of $114.60 and a 1 year high of $188.01. The firm has a fifty day moving average of $143.28 and a 200-day moving average of $139.60. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 42.18 and a beta of 1.56.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 2.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. StockNews.com raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group assumed coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective on the stock. Robert W. Baird lifted their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their target price for the stock from $145.00 to $175.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and an average price target of $156.44.

SiteOne Landscape Supply Company 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.