Brown Capital Management LLC Lowers Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Brown Capital Management LLC reduced its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 64.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,388 shares of the industrial products company’s stock after selling 9,745 shares during the quarter. Brown Capital Management LLC’s holdings in SiteOne Landscape Supply were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. King Luther Capital Management Corp increased its holdings in SiteOne Landscape Supply by 15.3% in the 3rd quarter. King Luther Capital Management Corp now owns 29,087 shares of the industrial products company’s stock valued at $4,390,000 after acquiring an additional 3,859 shares during the last quarter. Premier Fund Managers Ltd boosted its stake in SiteOne Landscape Supply by 14.1% during the third quarter. Premier Fund Managers Ltd now owns 405,738 shares of the industrial products company’s stock valued at $61,415,000 after buying an additional 50,000 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in SiteOne Landscape Supply in the 3rd quarter worth approximately $1,906,000. Pathstone Holdings LLC raised its holdings in shares of SiteOne Landscape Supply by 12.9% during the 3rd quarter. Pathstone Holdings LLC now owns 16,761 shares of the industrial products company’s stock worth $2,529,000 after acquiring an additional 1,914 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of SiteOne Landscape Supply by 5.3% during the 3rd quarter. Natixis Advisors LLC now owns 177,718 shares of the industrial products company’s stock valued at $26,820,000 after acquiring an additional 8,886 shares during the last quarter.

SiteOne Landscape Supply Stock Up 0.8 %

Shares of SITE opened at $139.54 on Thursday. The firm has a fifty day moving average price of $145.50 and a 200-day moving average price of $140.66. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.30 billion, a P/E ratio of 45.16 and a beta of 1.53. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. SiteOne Landscape Supply’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on SITE. The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price objective for the company. Truist Financial increased their price target on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada dropped their target price on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $147.80.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.