SiteOne Landscape Supply, Inc. $SITE Position Cut by Wasatch Advisors LP

Wasatch Advisors LP trimmed its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 40.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,269,677 shares of the industrial products company’s stock after selling 851,847 shares during the quarter. Wasatch Advisors LP’s holdings in SiteOne Landscape Supply were worth $145,264,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SITE. GAMMA Investing LLC raised its stake in SiteOne Landscape Supply by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,197 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 352 shares in the last quarter. Basecamp Wealth Advisors LLC grew its stake in shares of SiteOne Landscape Supply by 219.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of SiteOne Landscape Supply by 539.1% in the first quarter. NewEdge Advisors LLC now owns 2,550 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 2,151 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of SiteOne Landscape Supply by 13.4% during the first quarter. Glenmede Trust Co. NA now owns 4,998 shares of the industrial products company’s stock valued at $665,000 after purchasing an additional 592 shares during the period. Finally, Argent Capital Management LLC acquired a new position in shares of SiteOne Landscape Supply during the first quarter valued at $31,917,000.

Insiders Place Their Bets

In related news, CEO Doug Black purchased 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the transaction, the chief executive officer directly owned 8,000 shares of the company’s stock, valued at $816,240. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Fred M. Diaz sold 562 shares of SiteOne Landscape Supply stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the completion of the transaction, the director directly owned 11,267 shares in the company, valued at $1,267,762.84. This represents a 4.75% 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. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SITE shares. Weiss Ratings upgraded shares of SiteOne Landscape Supply from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Thursday, April 30th. Truist Financial dropped their price target on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. UBS Group reduced their price target on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Robert W. Baird decreased their price objective on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $135.27.

SiteOne Landscape Supply Trading Down 0.5%

SiteOne Landscape Supply stock opened at $98.89 on Wednesday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. SiteOne Landscape Supply, Inc. has a 1 year low of $90.07 and a 1 year high of $168.56. The firm’s 50 day moving average price is $105.23 and its two-hundred day moving average price is $124.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. SiteOne Landscape Supply’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.86 EPS. On average, research analysts predict that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

SiteOne Landscape Supply 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.