Morgan Stanley lessened its stake in shares of SiteOne Landscape Supply Inc (NYSE:SITE) by 27.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,697 shares of the industrial products company’s stock after selling 29,848 shares during the period. Morgan Stanley owned 0.20% of SiteOne Landscape Supply worth $6,005,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Synovus Financial Corp grew its stake in shares of SiteOne Landscape Supply by 155.6% in the third quarter. Synovus Financial Corp now owns 1,687 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 1,027 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of SiteOne Landscape Supply in the third quarter worth $257,000. GSA Capital Partners LLP acquired a new stake in shares of SiteOne Landscape Supply in the third quarter worth $295,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of SiteOne Landscape Supply in the third quarter worth $302,000. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of SiteOne Landscape Supply by 33.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 6,315 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 1,580 shares during the last quarter.
In other SiteOne Landscape Supply news, EVP Pascal Convers sold 9,750 shares of SiteOne Landscape Supply stock in a transaction on Monday, December 17th. The shares were sold at an average price of $55.86, for a total transaction of $544,635.00. Following the sale, the executive vice president now owns 9,750 shares in the company, valued at $544,635. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP L Briley Brisendine, Jr. sold 2,700 shares of SiteOne Landscape Supply stock in a transaction on Friday, December 28th. The stock was sold at an average price of $55.62, for a total transaction of $150,174.00. The disclosure for this sale can be found here. Insiders have sold 54,850 shares of company stock worth $3,033,075 in the last quarter. Corporate insiders own 4.40% of the company’s stock.
SITE opened at $54.25 on Thursday. SiteOne Landscape Supply Inc has a fifty-two week low of $45.32 and a fifty-two week high of $95.49. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.29 and a current ratio of 2.72. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 44.83 and a beta of 1.06.
SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Tuesday, February 19th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. SiteOne Landscape Supply had a net margin of 3.90% and a return on equity of 31.11%. The firm had revenue of $474.60 million for the quarter, compared to the consensus estimate of $473.18 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. On average, sell-side analysts anticipate that SiteOne Landscape Supply Inc will post 1.94 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on SITE shares. SunTrust Banks lowered their price objective on shares of SiteOne Landscape Supply to $79.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Deutsche Bank lowered their price objective on shares of SiteOne Landscape Supply from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Royal Bank of Canada set a $88.00 price objective on shares of SiteOne Landscape Supply and gave the stock a “buy” rating in a research note on Thursday, November 1st. They noted that the move was a valuation call. TheStreet downgraded shares of SiteOne Landscape Supply from a “b-” rating to a “c” rating in a research note on Monday, November 12th. Finally, Barclays set a $61.00 price objective on shares of SiteOne Landscape Supply and gave the stock a “hold” rating in a research note on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $73.67.
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SiteOne Landscape Supply 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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