BlackRock Discloses 19.8% Stake in SiteOne Landscape Supply
Ticker: SITE · Form: SC 13G · Filed: Jan 25, 2024 · CIK: 1650729
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, major-holder, passive-investment
TL;DR
**BlackRock owns nearly 20% of SiteOne, a big institutional vote of confidence.**
AI Summary
BlackRock Inc., a major investment firm, reported owning 8,054,007 shares of SiteOne Landscape Supply, Inc. (NYSE: SITE) as of December 31, 2023. This represents a 19.8% ownership stake in the company's common stock. This significant holding by an institutional investor like BlackRock can signal confidence in SiteOne's long-term prospects, potentially influencing other investors and providing a degree of stability to the stock price.
Why It Matters
This filing shows that a major institutional investor, BlackRock, has a substantial stake in SiteOne, which can be seen as a vote of confidence in the company's future.
Risk Assessment
Risk Level: low — This filing indicates a large institutional holding, which generally reduces volatility and provides stability, thus lowering investment risk.
Analyst Insight
A smart investor would view BlackRock's substantial 19.8% stake as a strong endorsement, suggesting potential stability and long-term value in SiteOne Landscape Supply, Inc., and might consider further research into the company's fundamentals.
Key Numbers
- 8,054,007 — Shares Owned (Total shares of SiteOne Landscape Supply, Inc. held by BlackRock Inc.)
- 19.8% — Ownership Percentage (Percentage of SiteOne Landscape Supply, Inc.'s common stock owned by BlackRock Inc.)
- December 31, 2023 — Reporting Date (The date as of which BlackRock Inc.'s ownership stake is reported.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- SiteOne Landscape Supply, Inc. (company) — the subject company whose shares are being reported
- 8,054,007 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 19.8% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (person) — date of the event requiring the filing
Forward-Looking Statements
- BlackRock will maintain a significant stake in SiteOne Landscape Supply, Inc. for the foreseeable future. (BlackRock Inc.) — high confidence, target: December 31, 2024
- SiteOne Landscape Supply, Inc. will continue to be a focus for institutional investors due to its industry position. (SiteOne Landscape Supply, Inc.) — medium confidence, target: December 31, 2024
FAQ
Who filed this SC 13G statement?
This SC 13G statement was filed by BlackRock Inc., a major investment management corporation, as indicated in the 'FILED BY' section of the filing.
What company's shares are the subject of this filing?
The subject company for this filing is SiteOne Landscape Supply, Inc., as clearly stated under 'SUBJECT COMPANY' and 'Name of Issuer'.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified in the filing.
How many shares of SiteOne Landscape Supply, Inc. does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 8,054,007 shares of SiteOne Landscape Supply, Inc. common stock, as per the filing's details.
What percentage of SiteOne Landscape Supply, Inc.'s common stock does BlackRock Inc. own?
BlackRock Inc. owns 19.8% of the common stock of SiteOne Landscape Supply, Inc., based on the information provided in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 25, 2024 by December 31, 2023 regarding SiteOne Landscape Supply, Inc. (SITE).