Handelsbanken Fonder AB Decreases Stake in SiteOne Landscape Supply, Inc. $SITE

Handelsbanken Fonder AB cut its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 18.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,741 shares of the industrial products company’s stock after selling 45,798 shares during the quarter. Handelsbanken Fonder AB’s holdings in SiteOne Landscape Supply were worth $23,653,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Millennium Management LLC raised its holdings in SiteOne Landscape Supply by 45.9% in the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock valued at $9,126,000 after acquiring an additional 23,657 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of SiteOne Landscape Supply by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock worth $25,907,000 after purchasing an additional 11,574 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of SiteOne Landscape Supply by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock valued at $20,679,000 after purchasing an additional 16,378 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of SiteOne Landscape Supply in the first quarter valued at approximately $6,797,000.

SiteOne Landscape Supply Stock Down 2.4%

Shares of SITE opened at $96.61 on Thursday. The company’s 50-day moving average price is $105.10 and its 200 day moving average price is $123.90. SiteOne Landscape Supply, Inc. has a 12-month low of $90.07 and a 12-month high of $168.56. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36. The firm has a market cap of $4.22 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 1.43 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business earned $2.86 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SITE shares. Robert W. Baird reduced their price objective on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a research note on Thursday, July 30th. Truist Financial reduced their price target on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Bank of America lowered their price target on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Zacks Research lowered shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $135.27.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black bought 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the acquisition, the chief executive officer owned 8,000 shares of the company’s stock, valued at approximately $816,240. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Fred M. Diaz sold 563 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total value of $64,818.19. Following the completion of the sale, the director directly owned 11,829 shares in the company, valued at approximately $1,361,872.77. The trade was a 4.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company’s stock.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.