Cambridge Investment Research Advisors Inc. Buys Shares of 13,566 SiteOne Landscape Supply Inc (NYSE:SITE)

Cambridge Investment Research Advisors Inc. acquired a new position in SiteOne Landscape Supply Inc (NYSE:SITE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,566 shares of the industrial products company’s stock, valued at approximately $1,139,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership increased its holdings in SiteOne Landscape Supply by 42.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 219,710 shares of the industrial products company’s stock valued at $18,449,000 after purchasing an additional 65,150 shares during the period. Janus Henderson Group PLC increased its holdings in SiteOne Landscape Supply by 4,105.4% during the 2nd quarter. Janus Henderson Group PLC now owns 108,961 shares of the industrial products company’s stock valued at $9,149,000 after purchasing an additional 106,370 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in SiteOne Landscape Supply by 12.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 210,096 shares of the industrial products company’s stock valued at $17,642,000 after purchasing an additional 23,627 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in SiteOne Landscape Supply by 4.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,191 shares of the industrial products company’s stock valued at $1,444,000 after purchasing an additional 730 shares during the period. Finally, American Century Companies Inc. increased its holdings in SiteOne Landscape Supply by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 134,638 shares of the industrial products company’s stock valued at $11,306,000 after purchasing an additional 15,660 shares during the period.

A number of brokerages recently issued reports on SITE. Royal Bank of Canada set a $105.00 price target on SiteOne Landscape Supply and gave the company a “buy” rating in a report on Thursday, August 2nd. UBS Group boosted their price target on SiteOne Landscape Supply from $76.00 to $80.00 and gave the company a “sell” rating in a report on Thursday, August 30th. TheStreet upgraded SiteOne Landscape Supply from a “c” rating to a “b-” rating in a report on Thursday, August 9th. Zacks Investment Research raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Wednesday, July 18th. Finally, Barclays lifted their price objective on SiteOne Landscape Supply from $67.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. SiteOne Landscape Supply currently has an average rating of “Buy” and a consensus price target of $84.38.

In related news, CEO Doug Black sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $87.66, for a total value of $1,051,920.00. Following the transaction, the chief executive officer now directly owns 403,228 shares of the company’s stock, valued at approximately $35,346,966.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John T. Guthrie sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $87.81, for a total value of $878,100.00. Following the completion of the transaction, the chief financial officer now directly owns 38,186 shares in the company, valued at $3,353,112.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,925 shares of company stock worth $17,895,116. Insiders own 4.40% of the company’s stock.

Shares of SITE traded up $0.11 during mid-day trading on Friday, reaching $71.19. The company had a trading volume of 461,849 shares, compared to its average volume of 349,690. The company has a quick ratio of 1.23, a current ratio of 2.69 and a debt-to-equity ratio of 2.15. SiteOne Landscape Supply Inc has a 52 week low of $60.08 and a 52 week high of $95.49. The stock has a market cap of $3.05 billion, a P/E ratio of 58.83 and a beta of 1.46.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.07). SiteOne Landscape Supply had a return on equity of 28.71% and a net margin of 3.39%. The company had revenue of $687.80 million during the quarter, compared to the consensus estimate of $689.21 million. During the same period in the prior year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts anticipate that SiteOne Landscape Supply Inc will post 2.01 EPS for the current year.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

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Institutional Ownership by Quarter for SiteOne Landscape Supply (NYSE:SITE)

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