Moody Aldrich Partners LLC Invests $2.25 Million in SiteOne Landscape Supply Inc (NYSE:SITE)
Moody Aldrich Partners LLC bought a new stake in SiteOne Landscape Supply Inc (NYSE:SITE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,739 shares of the industrial products company’s stock, valued at approximately $2,250,000.
A number of other hedge funds have also recently modified their holdings of SITE. PNC Financial Services Group Inc. lifted its position in shares of SiteOne Landscape Supply by 2.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,344 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 121 shares in the last quarter. US Bancorp DE lifted its holdings in SiteOne Landscape Supply by 5.9% in the 1st quarter. US Bancorp DE now owns 3,064 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 172 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of SiteOne Landscape Supply by 13.6% during the first quarter. Synovus Financial Corp now owns 1,604 shares of the industrial products company’s stock worth $118,000 after buying an additional 192 shares in the last quarter. Strs Ohio raised its position in shares of SiteOne Landscape Supply by 4.4% in the first quarter. Strs Ohio now owns 4,700 shares of the industrial products company’s stock valued at $346,000 after buying an additional 200 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SiteOne Landscape Supply by 8.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,911 shares of the industrial products company’s stock worth $214,000 after buying an additional 233 shares in the last quarter.
In related news, CEO Doug Black sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $106.80, for a total transaction of $1,602,000.00. Following the transaction, the chief executive officer now owns 383,065 shares of the company’s stock, valued at $40,911,342. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP L Briley Brisendine, Jr. sold 5,400 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $106.02, for a total value of $572,508.00. Following the completion of the transaction, the executive vice president now owns 24,634 shares in the company, valued at approximately $2,611,696.68. The disclosure for this sale can be found here. Insiders have sold a total of 35,400 shares of company stock worth $3,826,608 in the last 90 days. 3.49% of the stock is currently owned by company insiders.
SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.47. SiteOne Landscape Supply had a net margin of 4.00% and a return on equity of 24.41%. The company had revenue of $817.70 million during the quarter, compared to the consensus estimate of $748.74 million. During the same quarter in the prior year, the firm posted $1.52 earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts predict that SiteOne Landscape Supply Inc will post 1.71 earnings per share for the current fiscal year.
SITE has been the subject of a number of recent research reports. Odeon Capital Group assumed coverage on SiteOne Landscape Supply in a research note on Wednesday, April 8th. They issued a “buy” rating for the company. UBS Group cut shares of SiteOne Landscape Supply from a “neutral” rating to a “sell” rating and upped their target price for the company from $80.00 to $85.00 in a research report on Wednesday, July 8th. Robert W. Baird cut shares of SiteOne Landscape Supply from an “outperform” rating to a “neutral” rating and set a $64.00 price target for the company. in a research report on Monday, April 6th. Jefferies Financial Group upped their price objective on shares of SiteOne Landscape Supply from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, Zacks Investment Research upgraded SiteOne Landscape Supply from a “hold” rating to a “strong-buy” rating and set a $126.00 price target on the stock in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $95.78.
SiteOne Landscape Supply Profile
SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.
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