Baillie Gifford & Co. Acquires Shares of 4,058,655 SiteOne Landscape Supply, Inc. (SITE)

Baillie Gifford & Co. acquired a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,058,655 shares of the industrial products company’s stock, valued at approximately $211,293,000. Baillie Gifford & Co. owned approximately 10.22% of SiteOne Landscape Supply at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in SiteOne Landscape Supply by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 1,653,393 shares of the industrial products company’s stock worth $80,041,000 after acquiring an additional 164,917 shares during the period. William Blair Investment Management LLC grew its stake in SiteOne Landscape Supply by 2.9% in the 2nd quarter. William Blair Investment Management LLC now owns 1,595,428 shares of the industrial products company’s stock worth $83,058,000 after acquiring an additional 44,731 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in SiteOne Landscape Supply by 3.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,500,102 shares of the industrial products company’s stock worth $78,095,000 after acquiring an additional 49,878 shares during the period. Alliancebernstein L.P. grew its stake in SiteOne Landscape Supply by 224.3% in the 2nd quarter. Alliancebernstein L.P. now owns 1,459,460 shares of the industrial products company’s stock worth $75,979,000 after acquiring an additional 1,009,392 shares during the period. Finally, Pictet Asset Management Ltd. grew its stake in SiteOne Landscape Supply by 49.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,274,605 shares of the industrial products company’s stock worth $67,784,000 after acquiring an additional 421,519 shares during the period.

ILLEGAL ACTIVITY NOTICE: “Baillie Gifford & Co. Acquires Shares of 4,058,655 SiteOne Landscape Supply, Inc. (SITE)” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://sportsperspectives.com/2017/09/10/baillie-gifford-co-acquires-shares-of-4058655-siteone-landscape-supply-inc-site.html.

Shares of SiteOne Landscape Supply, Inc. (SITE) traded up 0.08% during trading on Friday, hitting $51.67. 244,004 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.05 billion, a PE ratio of 48.29 and a beta of 2.07. SiteOne Landscape Supply, Inc. has a 1-year low of $26.60 and a 1-year high of $53.87. The stock’s 50 day moving average is $51.15 and its 200 day moving average is $48.94.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.04. The company had revenue of $608.60 million during the quarter, compared to analyst estimates of $607.94 million. SiteOne Landscape Supply had a net margin of 2.46% and a return on equity of 27.37%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.18) EPS. On average, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post $1.31 earnings per share for the current year.

SITE has been the subject of several recent analyst reports. Johnson Rice initiated coverage on shares of SiteOne Landscape Supply in a research note on Monday, May 15th. They issued an “accumulate” rating for the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $60.00 target price (up from $55.00) on shares of SiteOne Landscape Supply in a research note on Thursday, August 10th. BidaskClub raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $63.00 target price on shares of SiteOne Landscape Supply in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $54.50.

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.

Want to see what other hedge funds are holding SITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiteOne Landscape Supply, Inc. (NYSE:SITE).

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

Receive News & Ratings for SiteOne Landscape Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiteOne Landscape Supply Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply