Algert Global LLC Has $2.44 Million Holdings in 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 lowered its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 40.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,048 shares of the industrial products company's stock after selling 13,560 shares during the quarter. Algert Global LLC's holdings in SiteOne Landscape Supply were worth $2,435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SITE. Bamco Inc. NY raised its holdings in shares of SiteOne Landscape Supply by 4.6% during the 4th quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock worth $217,786,000 after acquiring an additional 72,430 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of SiteOne Landscape Supply by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company's stock worth $210,570,000 after buying an additional 91,719 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in SiteOne Landscape Supply by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock worth $143,733,000 after purchasing an additional 16,120 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in SiteOne Landscape Supply by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 637,409 shares of the industrial products company's stock worth $83,989,000 after purchasing an additional 73,010 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in SiteOne Landscape Supply by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 631,328 shares of the industrial products company's stock valued at $83,190,000 after buying an additional 27,409 shares during the last quarter.

Insider Activity

In other SiteOne Landscape Supply news, CEO Doug Black sold 29,760 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $129.28, for a total value of $3,847,372.80. Following the completion of the transaction, the chief executive officer owned 596,684 shares of the company's stock, valued at $77,139,307.52. This represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph Ketter sold 39,640 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 13,663 shares in the company, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,784 shares of company stock valued at $9,828,465 in the last three months. 2.60% of the stock is owned by insiders.

SiteOne Landscape Supply Stock Performance

SiteOne Landscape Supply stock traded down $0.48 during mid-day trading on Tuesday, hitting $143.90. 346,606 shares of the company's stock traded hands, compared to its average volume of 640,013. The firm has a 50 day moving average price of $131.04 and a 200 day moving average price of $125.12. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The company has a market cap of $6.42 billion, a PE ratio of 52.52, a price-to-earnings-growth ratio of 2.41 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial dropped their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus lowered their target price on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a 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. Finally, Royal Bank Of Canada upped their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $147.00.

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.