GW&K Investment Management LLC Sells 65,859 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• GW&K Investment Management LLC cut its stake in SiteOne by 11.1% in Q3, selling 65,859 shares and now owning 525,360 shares (about 1.18% of the company) valued at roughly $67.7 million.
• SiteOne beat expectations for the most recent quarter with EPS of ($0.20) vs. ($0.29) est. and revenue of $1.05 billion (up 3.2% YoY); analysts hold a consensus "Hold" rating with an average price target of $159.44.
• The stock trades near $139.28 (12‑month range $101.25–$168.56) with a $6.19 billion market cap and a PE of 41.45; EVP Eric Elema sold 1,765 shares and insiders collectively own about 2.6%.

GW&K Investment Management LLC cut its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 525,360 shares of the industrial products company's stock after selling 65,859 shares during the period. GW&K Investment Management LLC owned about 1.18% of SiteOne Landscape Supply worth $67,667,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Man Group plc grew its position in SiteOne Landscape Supply by 0.4% during the 2nd quarter. Man Group plc now owns 22,338 shares of the industrial products company's stock worth $2,702,000 after acquiring an additional 86 shares during the last quarter. Keynote Financial Services LLC boosted its stake in shares of SiteOne Landscape Supply by 5.4% during the second quarter. Keynote Financial Services LLC now owns 1,740 shares of the industrial products company's stock valued at $210,000 after purchasing an additional 89 shares in the last quarter. Allworth Financial LP boosted its stake in shares of SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. HM Payson & Co. grew its holdings in shares of SiteOne Landscape Supply by 32.2% during the third quarter. HM Payson & Co. now owns 398 shares of the industrial products company's stock worth $51,000 after purchasing an additional 97 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its holdings in shares of SiteOne Landscape Supply by 1.8% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 5,797 shares of the industrial products company's stock worth $747,000 after purchasing an additional 105 shares during the last quarter.

SiteOne Landscape Supply Trading Down 0.6%

SITE opened at $139.28 on Thursday. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $168.56. The company has a fifty day moving average of $143.35 and a 200-day moving average of $135.48. The stock has a market cap of $6.19 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 1.81 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.29.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.09. SiteOne Landscape Supply had a net margin of 3.23% and a return on equity of 9.28%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business earned ($0.48) earnings per share. SiteOne Landscape Supply's revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the business's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $158.01, for a total value of $278,887.65. Following the transaction, the executive vice president directly owned 2,911 shares of the company's stock, valued at approximately $459,967.11. The trade was a 37.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a report on Friday, February 13th. Barclays upped their price target on shares of SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an "equal weight" rating in a research report on Thursday, February 12th. Royal Bank Of Canada raised their price target on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Truist Financial boosted their price objective on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $159.44.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

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