Algert Global LLC Sells 13,560 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Algert Global LLC reduced its stake in SiteOne Landscape Supply by 40.3%, selling 13,560 shares and leaving the firm with 20,048 shares valued at approximately $2.4 million.
• Insider selling activity increased, with CEO Doug Black selling 7,384 shares worth nearly $975,353, representing a 1.21% decrease in his ownership.
• Analysts have mixed ratings for the stock, with four analysts rating it as a Buy and the consensus target price set at $147.00.

Algert Global LLC decreased its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 40.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,048 shares of the industrial products company's stock after selling 13,560 shares during the period. Algert Global LLC's holdings in SiteOne Landscape Supply were worth $2,435,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. HM Payson & Co. bought a new position in SiteOne Landscape Supply during the 1st quarter worth $25,000. Golden State Wealth Management LLC increased its position in shares of SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after purchasing an additional 139 shares during the period. Eastern Bank bought a new position in shares of SiteOne Landscape Supply in the first quarter worth $38,000. GAMMA Investing LLC increased its position in shares of SiteOne Landscape Supply by 24.3% in the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after purchasing an additional 95 shares during the period. Finally, State of Wyoming increased its position in shares of SiteOne Landscape Supply by 6.2% in the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock worth $183,000 after purchasing an additional 81 shares during the period.

Insider Transactions at SiteOne Landscape Supply

In other news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total transaction of $975,352.56. Following the sale, the chief executive officer directly owned 600,446 shares of the company's stock, valued at approximately $79,312,912.14. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the sale, the executive vice president directly owned 13,663 shares in the company, valued at $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,784 shares of company stock worth $9,828,465 over the last three months. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus decreased their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Truist Financial decreased their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada raised their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Four 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $147.00.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $137.4050 on Thursday. The stock's 50-day simple moving average is $129.12 and its 200 day simple moving average is $124.99. The firm has a market capitalization of $6.13 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 2.38 and a beta of 1.54. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $2.63 earnings per share. On average, analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.

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