JPMorgan Chase & Co. Acquires 683 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

JPMorgan Chase & Co. raised its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,867 shares of the industrial products company’s stock after buying an additional 683 shares during the period. JPMorgan Chase & Co.’s holdings in SiteOne Landscape Supply were worth $817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of SiteOne Landscape Supply by 596.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,450,224 shares of the industrial products company’s stock valued at $70,206,000 after buying an additional 1,241,912 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of SiteOne Landscape Supply by 3.5% in the first quarter. Conestoga Capital Advisors LLC now owns 792,434 shares of the industrial products company’s stock valued at $38,362,000 after buying an additional 26,749 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of SiteOne Landscape Supply by 39.5% in the first quarter. Wells Fargo & Company MN now owns 335,502 shares of the industrial products company’s stock valued at $16,242,000 after buying an additional 94,968 shares during the last quarter. Granite Investment Partners LLC increased its stake in shares of SiteOne Landscape Supply by 74.1% in the first quarter. Granite Investment Partners LLC now owns 313,365 shares of the industrial products company’s stock valued at $15,170,000 after buying an additional 133,398 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of SiteOne Landscape Supply by 154.2% in the first quarter. Bank of New York Mellon Corp now owns 192,159 shares of the industrial products company’s stock valued at $9,303,000 after buying an additional 116,564 shares during the last quarter. Institutional investors and hedge funds own 89.72% of the company’s stock.

SiteOne Landscape Supply, Inc. (NYSE SITE) opened at 50.88 on Friday. The stock has a market capitalization of $2.02 billion, a PE ratio of 47.55 and a beta of 1.87. The company’s 50-day moving average is $52.35 and its 200 day moving average is $47.32. SiteOne Landscape Supply, Inc. has a 1-year low of $26.60 and a 1-year high of $53.87.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by $0.04. The company had revenue of $608.60 million for the quarter, compared to analyst estimates of $607.94 million. SiteOne Landscape Supply had a return on equity of 27.37% and a net margin of 2.46%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.18) earnings per share. Equities analysts predict that SiteOne Landscape Supply, Inc. will post $1.37 earnings per share for the current year.

SITE has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, April 19th. Royal Bank Of Canada restated a “buy” rating and set a $52.00 price objective on shares of SiteOne Landscape Supply in a research report on Monday, May 8th. Deutsche Bank AG reaffirmed a “buy” rating and set a $60.00 target price (up from $55.00) on shares of SiteOne Landscape Supply in a research note on Thursday. Finally, Johnson Rice started coverage on shares of SiteOne Landscape Supply in a research note on Monday, May 15th. They set an “accumulate” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $54.50.

In other SiteOne Landscape Supply news, CEO Doug Black bought 6,200 shares of SiteOne Landscape Supply stock in a transaction dated Thursday, May 25th. The stock was acquired at an average cost of $50.76 per share, for a total transaction of $314,712.00. Following the completion of the transaction, the chief executive officer now directly owns 400,743 shares of the company’s stock, valued at $20,341,714.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Company Profile

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.