Bank of New York Mellon Corp Has $48.91 Million Stock Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bank of New York Mellon Corp lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 402,760 shares of the industrial products company's stock after selling 21,093 shares during the period. Bank of New York Mellon Corp owned 0.90% of SiteOne Landscape Supply worth $48,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. HighPoint Advisor Group LLC raised its stake in SiteOne Landscape Supply by 4.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,037 shares of the industrial products company's stock valued at $271,000 after acquiring an additional 78 shares during the period. State of Wyoming raised its stake in SiteOne Landscape Supply by 6.2% in the 4th quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock valued at $183,000 after acquiring an additional 81 shares during the period. GAMMA Investing LLC raised its stake in SiteOne Landscape Supply by 24.3% in the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 95 shares during the period. Treasurer of the State of North Carolina raised its stake in SiteOne Landscape Supply by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,611 shares of the industrial products company's stock valued at $2,584,000 after acquiring an additional 130 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in SiteOne Landscape Supply by 106.1% in the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 139 shares during the period.

Insider Activity

In related news, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was 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 of the company's stock, valued at $1,725,363.64. This trade represents a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Doug Black sold 29,760 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $129.28, for a total value of $3,847,372.80. Following the completion of the sale, the chief executive officer directly owned 596,684 shares in the company, valued at $77,139,307.52. This trade represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They set a "hold" rating and a $135.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price objective 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 Thursday, May 1st. Finally, Truist Financial lowered their price objective 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $145.70.

SiteOne Landscape Supply Price Performance

Shares of SITE traded up $1.72 during trading hours on Thursday, hitting $125.47. 386,859 shares of the company were exchanged, compared to its average volume of 421,408. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 49.99, a P/E/G ratio of 2.03 and a beta of 1.55. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.75. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.39. The firm's fifty day moving average is $122.28 and its 200 day moving average is $125.45.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). The business had revenue of $939.40 million during the quarter, compared to analyst estimates of $933.90 million. SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned ($0.43) earnings per share. On average, equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share 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.