Truist Financial Corp Lowers Stake in SiteOne Landscape Supply, Inc. $SITE

Truist Financial Corp reduced its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 45.3% during the 4th quarter, HoldingsChannel reports. The firm owned 33,328 shares of the industrial products company’s stock after selling 27,570 shares during the period. Truist Financial Corp’s holdings in SiteOne Landscape Supply were worth $4,151,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D grew its position in SiteOne Landscape Supply by 0.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company’s stock worth $2,109,000 after purchasing an additional 89 shares during the last quarter. M&T Bank Corp grew its position in SiteOne Landscape Supply by 13.3% during the 4th quarter. M&T Bank Corp now owns 2,870 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 338 shares during the last quarter. Comerica Bank grew its position in SiteOne Landscape Supply by 24.4% during the 4th quarter. Comerica Bank now owns 134,716 shares of the industrial products company’s stock worth $16,780,000 after purchasing an additional 26,436 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its position in SiteOne Landscape Supply by 11.4% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 38,397 shares of the industrial products company’s stock worth $4,783,000 after purchasing an additional 3,916 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in SiteOne Landscape Supply by 29.1% during the 4th quarter. HB Wealth Management LLC now owns 2,891 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 651 shares during the last quarter.

Insider Activity at SiteOne Landscape Supply

In other news, EVP Eric J. Elema sold 1,765 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the sale, the executive vice president owned 2,911 shares in the company, valued at approximately $459,967.11. This trade represents a 37.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

SITE has been the topic of several research reports. UBS Group initiated coverage on shares of SiteOne Landscape Supply in a research report on Friday, April 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Stifel Nicolaus raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a research report on Monday, May 4th. Robert W. Baird set a $160.00 price objective on shares of SiteOne Landscape Supply in a research report on Thursday, April 30th. Bank of America lowered their price objective 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, Truist Financial raised their price objective on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus price target of $160.10.

SiteOne Landscape Supply Stock Down 0.1%

SITE stock opened at $120.92 on Monday. SiteOne Landscape Supply, Inc. has a one year low of $112.23 and a one year high of $168.56. The stock has a market capitalization of $5.36 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 1.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33. The company has a fifty day moving average of $134.65 and a 200-day moving average of $135.10.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The firm had revenue of $940.10 million during the quarter, compared to analyst estimates of $982.27 million. During the same quarter last year, the business posted ($0.61) EPS. The firm’s revenue was up .1% on a year-over-year basis. As a group, analysts expect that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current year.

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.