Bank of New York Mellon Corp Sells 21,093 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bank of New York Mellon Corp cut its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 402,760 shares of the industrial products company's stock after selling 21,093 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of SiteOne Landscape Supply worth $48,911,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Proficio Capital Partners LLC acquired a new position in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $1,771,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of SiteOne Landscape Supply by 7.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,072 shares of the industrial products company's stock worth $1,591,000 after buying an additional 865 shares in the last quarter. Swiss National Bank raised its holdings in shares of SiteOne Landscape Supply by 0.6% in the 4th quarter. Swiss National Bank now owns 88,800 shares of the industrial products company's stock worth $11,701,000 after buying an additional 500 shares in the last quarter. Polen Capital Management LLC raised its holdings in shares of SiteOne Landscape Supply by 48.2% in the 4th quarter. Polen Capital Management LLC now owns 24,140 shares of the industrial products company's stock worth $3,181,000 after buying an additional 7,847 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of SiteOne Landscape Supply by 10.4% in the 4th quarter. Xponance Inc. now owns 3,470 shares of the industrial products company's stock worth $457,000 after buying an additional 327 shares in the last quarter.

Wall Street Analysts Forecast Growth

SITE has been the topic of several recent analyst reports. Truist Financial reduced 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. Deutsche Bank Aktiengesellschaft initiated coverage on SiteOne Landscape Supply in a report on Tuesday, April 1st. They issued a "hold" rating and a $135.00 target price on the stock. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Barclays reduced their target price on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, Loop Capital reduced their target price on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Stock Performance

SITE traded up $0.68 on Thursday, reaching $124.43. The company had a trading volume of 41,959 shares, compared to its average volume of 483,114. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The stock has a market cap of $5.58 billion, a P/E ratio of 49.49, a P/E/G ratio of 2.00 and a beta of 1.55. The company's fifty day moving average is $122.20 and its 200 day moving average is $125.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 2.36.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued 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 return on equity of 7.31% and a net margin of 2.53%. SiteOne Landscape Supply's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.43) EPS. As a group, analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the sale, the executive vice president directly owned 13,663 shares of the company's stock, valued at approximately $1,725,363.64. This trade represents a 74.37% 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, CEO Doug Black sold 29,760 shares of SiteOne Landscape Supply 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 sale, the chief executive officer directly owned 596,684 shares in the company, valued at $77,139,307.52. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

SiteOne Landscape Supply Company Profile

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.