87,623 Shares in SiteOne Landscape Supply, Inc. $SITE Bought by SEB Asset Management AB

Key Points

• SEB Asset Management AB opened a new position in SiteOne Landscape Supply, buying 87,623 shares worth about $11.66 million in the first quarter, according to its latest 13F filing.
• Analysts remain cautious overall: recent downgrades from Zacks Research and Weiss Ratings helped push the stock’s consensus rating to Hold, with an average price target of $156.64.
• SiteOne’s latest quarterly results missed expectations, with EPS of -$0.60 versus the expected -$0.33 and revenue of $940.1 million below estimates; the stock recently traded near $102.86, close to its 52-week low.

SEB Asset Management AB purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,623 shares of the industrial products company's stock, valued at approximately $11,663,000. SEB Asset Management AB owned about 0.20% of SiteOne Landscape Supply as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in SiteOne Landscape Supply by 541.9% in the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 168 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $27,000 after purchasing an additional 88 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of SiteOne Landscape Supply by 1,521.4% during the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company's stock worth $28,000 after purchasing an additional 213 shares during the last quarter. IFP Advisors Inc grew its position in shares of SiteOne Landscape Supply by 106.8% in the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at approximately $42,000.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SITE. Zacks Research cut shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a research report on Monday, June 22nd. Weiss Ratings lowered shares of SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Robert W. Baird set a $160.00 price target on shares of SiteOne Landscape Supply in a research note on Thursday, April 30th. Bank of America cut their price target on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating for the company in a report on Monday, April 20th. Finally, Barclays reduced their price target on shares of SiteOne Landscape Supply from $148.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $156.64.

Insiders Place Their Bets

In related news, Director Fred M. Diaz sold 562 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director directly owned 11,267 shares of the company's stock, valued at $1,267,762.84. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company's stock.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $102.86 on Tuesday. The stock has a 50 day moving average price of $109.69 and a 200 day moving average price of $128.64. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.34. SiteOne Landscape Supply, Inc. has a 52-week low of $100.52 and a 52-week high of $168.56.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly 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 company had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. During the same quarter in the prior year, the business earned ($0.61) earnings per share. SiteOne Landscape Supply's revenue was up .1% compared to the same quarter last year. Research analysts predict that SiteOne Landscape Supply, Inc. will post 4.02 EPS for the current fiscal year.

About SiteOne Landscape Supply

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.

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