SiteOne Landscape Supply, Inc. (SITE) Stake Increased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 312.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,366,395 shares of the industrial products company’s stock after acquiring an additional 1,034,971 shares during the quarter. Wells Fargo & Company MN owned 3.44% of SiteOne Landscape Supply worth $79,387,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SITE. Janus Henderson Group PLC acquired a new position in shares of SiteOne Landscape Supply in the 2nd quarter valued at approximately $11,758,000. Schwab Charles Investment Management Inc. grew its position in shares of SiteOne Landscape Supply by 69.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 147,751 shares of the industrial products company’s stock valued at $7,692,000 after purchasing an additional 60,473 shares during the period. Northern Trust Corp grew its position in shares of SiteOne Landscape Supply by 114.4% in the 2nd quarter. Northern Trust Corp now owns 433,782 shares of the industrial products company’s stock valued at $22,583,000 after purchasing an additional 231,495 shares during the period. FMR LLC grew its position in shares of SiteOne Landscape Supply by 288.4% in the 2nd quarter. FMR LLC now owns 2,017,984 shares of the industrial products company’s stock valued at $105,056,000 after purchasing an additional 1,498,436 shares during the period. Finally, Legal & General Group Plc grew its position in shares of SiteOne Landscape Supply by 199.7% in the 2nd quarter. Legal & General Group Plc now owns 8,172 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 5,445 shares during the period.

In other SiteOne Landscape Supply news, EVP Pascal Convers sold 9,750 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $74.25, for a total transaction of $723,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Ketter sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $71.67, for a total value of $179,175.00. Following the transaction, the vice president now directly owns 7,716 shares of the company’s stock, valued at approximately $553,005.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,887 shares of company stock valued at $6,704,265. Insiders own 4.00% of the company’s stock.

SiteOne Landscape Supply, Inc. (NYSE:SITE) traded down $2.43 during trading hours on Wednesday, reaching $71.92. The company’s stock had a trading volume of 413,800 shares, compared to its average volume of 428,860. SiteOne Landscape Supply, Inc. has a 52-week low of $31.52 and a 52-week high of $75.66. The company has a current ratio of 2.69, a quick ratio of 1.21 and a debt-to-equity ratio of 2.35. The firm has a market cap of $2,956.74, a P/E ratio of 68.84 and a beta of 2.64.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.14). SiteOne Landscape Supply had a return on equity of 26.42% and a net margin of 2.49%. The firm had revenue of $502.40 million for the quarter, compared to analyst estimates of $506.28 million. During the same period last year, the company earned $0.36 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. research analysts forecast that SiteOne Landscape Supply, Inc. will post 1.23 EPS for the current year.

Several brokerages recently issued reports on SITE. UBS boosted their price objective on SiteOne Landscape Supply from $54.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Barclays boosted their price objective on SiteOne Landscape Supply from $48.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Robert W. Baird boosted their price objective on SiteOne Landscape Supply from $58.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. SunTrust Banks boosted their price objective on SiteOne Landscape Supply to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research lowered SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. SiteOne Landscape Supply currently has a consensus rating of “Buy” and an average target price of $66.00.

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About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

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

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