Impax Asset Management Group plc Lowers Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Impax Asset Management Group plc trimmed its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,010,816 shares of the industrial products company's stock after selling 23,004 shares during the quarter. Impax Asset Management Group plc owned approximately 2.25% of SiteOne Landscape Supply worth $122,753,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Golden State Wealth Management LLC raised its holdings 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 in the last quarter. Tortoise Investment Management LLC grew its position in SiteOne Landscape Supply by 78.9% during the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock worth $39,000 after acquiring an additional 131 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of SiteOne Landscape Supply in the 4th quarter valued at about $40,000. Brown Brothers Harriman & Co. grew its position in shares of SiteOne Landscape Supply by 395.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock valued at $45,000 after buying an additional 273 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 95 shares during the period.

Analyst Ratings Changes

SITE has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on 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. 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. Barclays lowered their price objective on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reduced 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 note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, SiteOne Landscape Supply has an average rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Trading Up 1.6%

Shares of NYSE:SITE traded up $2.01 during trading on Tuesday, reaching $128.54. The company's stock had a trading volume of 787,694 shares, compared to its average volume of 431,920. The company has a current ratio of 2.36, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $160.75. The firm's 50 day simple moving average is $121.16 and its two-hundred day simple moving average is $125.73. The stock has a market capitalization of $5.76 billion, a PE ratio of 51.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.55.

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

Insider Activity at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 39,640 shares of the firm'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 transaction of $5,005,739.20. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

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.