SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Empire Life Investments Inc.

Key Points

• Empire Life Investments Inc. decreased its stake in SiteOne Landscape Supply by 7.3% by selling 3,618 shares, bringing its total holdings to approximately $5.6 million.
• Wall Street analysts have mixed ratings on SiteOne Landscape Supply, with a consensus rating of "Hold" and a consensus target price of $147.00.
• Insider transactions included significant sales by executives, with EVP Joseph Ketter and CEO Doug Black selling a combined total of 69,400 shares recently.

Empire Life Investments Inc. decreased its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,131 shares of the industrial products company's stock after selling 3,618 shares during the quarter. Empire Life Investments Inc. owned 0.10% of SiteOne Landscape Supply worth $5,602,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wasatch Advisors LP lifted its holdings in shares of SiteOne Landscape Supply by 9.7% during the fourth quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock valued at $228,107,000 after purchasing an additional 153,447 shares during the last quarter. Bamco Inc. NY lifted its holdings in SiteOne Landscape Supply by 4.6% in the 4th quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock worth $217,786,000 after purchasing an additional 72,430 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in SiteOne Landscape Supply by 6.1% in the 4th 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 during the period. Conestoga Capital Advisors LLC increased its position in shares of 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 valued at $143,733,000 after purchasing an additional 16,120 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of 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 valued at $83,989,000 after purchasing an additional 73,010 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada raised their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Truist Financial reduced their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus dropped their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $147.00.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply 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 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 $1,725,363.64. This trade represents a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Doug Black sold 29,760 shares of the firm'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 sale, the chief executive officer directly owned 596,684 shares of the company's stock, valued at $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Trading Down 0.9%

Shares of NYSE:SITE traded down $1.19 during midday trading on Thursday, reaching $134.94. The company's stock had a trading volume of 210,665 shares, compared to its average volume of 515,107. The firm has a 50 day moving average price of $125.61 and a two-hundred day moving average price of $125.45. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 2.32 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings results 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 net margin of 2.69% and a return on equity of 7.80%. The business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the business posted $2.63 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

SiteOne Landscape Supply 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.