State Board of Administration of Florida Retirement System Has $6.85 Million Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

State Board of Administration of Florida Retirement System increased its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 79.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,340 shares of the industrial products company’s stock after buying an additional 15,194 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of SiteOne Landscape Supply worth $6,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of SiteOne Landscape Supply by 2.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,563,543 shares of the industrial products company’s stock valued at $772,426,000 after buying an additional 102,879 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in SiteOne Landscape Supply by 19.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,796,999 shares of the industrial products company’s stock valued at $642,680,000 after purchasing an additional 624,933 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in SiteOne Landscape Supply by 1.2% during the third quarter. Conestoga Capital Advisors LLC now owns 1,210,251 shares of the industrial products company’s stock valued at $241,409,000 after purchasing an additional 14,407 shares in the last quarter. Invesco Ltd. raised its position in SiteOne Landscape Supply by 26.0% during the second quarter. Invesco Ltd. now owns 1,170,256 shares of the industrial products company’s stock valued at $198,077,000 after purchasing an additional 241,757 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in SiteOne Landscape Supply during the second quarter valued at approximately $103,097,000.

In other news, CFO John T. Guthrie sold 8,465 shares of SiteOne Landscape Supply stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $246.76, for a total transaction of $2,088,823.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Doug Black sold 17,267 shares of the business’s stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $247.35, for a total transaction of $4,270,992.45. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

SITE stock opened at $204.55 on Friday. The firm’s 50-day moving average price is $235.17 and its two-hundred day moving average price is $210.15. SiteOne Landscape Supply, Inc. has a 12-month low of $147.60 and a 12-month high of $260.00. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 42.18 and a beta of 1.18. The company has a current ratio of 2.32, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, November 3rd. The industrial products company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.51. The firm had revenue of $936.40 million for the quarter, compared to analysts’ expectations of $907.95 million. SiteOne Landscape Supply had a net margin of 6.65% and a return on equity of 24.99%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 earnings per share. Equities analysts predict that SiteOne Landscape Supply, Inc. will post 4.87 EPS for the current year.

Several brokerages have commented on SITE. Robert W. Baird boosted their price objective on shares of SiteOne Landscape Supply from $205.00 to $265.00 and gave the company an “outperform” rating in a research report on Thursday, November 4th. Royal Bank of Canada boosted their price objective on shares of SiteOne Landscape Supply from $165.00 to $197.00 and gave the company an “underperform” rating in a research report on Thursday, November 4th. They noted that the move was a valuation call. Truist raised their price target on shares of SiteOne Landscape Supply from $190.00 to $275.00 and gave the company a “hold” rating in a report on Thursday, November 4th. Zacks Investment Research cut shares of SiteOne Landscape Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 6th. Finally, Truist Securities raised their price objective on shares of SiteOne Landscape Supply from $190.00 to $275.00 and gave the company a “hold” rating in a research report on Thursday, November 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $225.00.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc engages in the distribution of commercial and residential landscape supplies. Its products include outdoor lighting, nursery, landscape supplies, fertilizers, turf protection products, grass seed, turf care equipment, and golf course accessories for green industry professionals.

See Also: Fiduciary

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

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