Principal Financial Group Inc. Decreases Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Principal Financial Group Inc. lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,882 shares of the industrial products company’s stock after selling 286 shares during the quarter. Principal Financial Group Inc.’s holdings in SiteOne Landscape Supply were worth $380,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its stake in SiteOne Landscape Supply by 90.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Trust Co. of Vermont lifted its position in shares of SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after buying an additional 250 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth approximately $71,000. CIBC Asset Management Inc purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth approximately $200,000. Finally, Marco Investment Management LLC purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth approximately $201,000.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $128.79 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The stock has a market cap of $5.79 billion, a PE ratio of 47.88 and a beta of 1.69. The firm’s fifty day simple moving average is $135.79 and its 200-day simple moving average is $141.03.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. Analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $175.00 in a research note on Friday, December 6th. UBS Group dropped their price objective on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada boosted their price objective on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, Robert W. Baird dropped their price objective on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $154.56.

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.