PDT Partners LLC Lowers Stake in SiteOne Landscape Supply, Inc. $SITE

Key Points

• PDT Partners LLC reduced its stake in SiteOne Landscape Supply by 46.8% during the 1st quarter, leaving it with 4,443 shares worth approximately $540,000.
• Multiple large investors, including GAMMA Investing LLC and Deutsche Bank AG, have recently increased their positions in SiteOne Landscape Supply, indicating a varying sentiment among institutional shareholders.
• Insider selling activities reflect significant stock transactions, with CEO Doug Black and EVP Joseph Ketter each selling a substantial number of shares, collectively worth over $8.85 million within the last 90 days.

PDT Partners LLC trimmed its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 46.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,443 shares of the industrial products company's stock after selling 3,914 shares during the quarter. PDT Partners LLC's holdings in SiteOne Landscape Supply were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. State of Wyoming grew its position in SiteOne Landscape Supply by 18.4% during the 1st quarter. State of Wyoming now owns 1,644 shares of the industrial products company's stock valued at $200,000 after purchasing an additional 255 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its position in SiteOne Landscape Supply by 9.0% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 32,549 shares of the industrial products company's stock valued at $3,953,000 after purchasing an additional 2,690 shares during the last quarter. Zuckerman Investment Group LLC boosted its holdings in shares of SiteOne Landscape Supply by 6.2% during the 1st quarter. Zuckerman Investment Group LLC now owns 54,430 shares of the industrial products company's stock valued at $6,610,000 after acquiring an additional 3,165 shares during the last quarter. Hill City Capital LP purchased a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at about $5,131,000. Finally, Comerica Bank boosted its holdings in shares of SiteOne Landscape Supply by 12.2% during the 1st quarter. Comerica Bank now owns 108,203 shares of the industrial products company's stock valued at $13,140,000 after acquiring an additional 11,750 shares during the last quarter.

SiteOne Landscape Supply Stock Performance

Shares of SITE traded up $5.66 on Friday, reaching $153.05. The company's stock had a trading volume of 809,058 shares, compared to its average volume of 489,241. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06. The stock has a market capitalization of $6.83 billion, a P/E ratio of 55.83, a PEG ratio of 2.55 and a beta of 1.60. The stock's 50 day simple moving average is $135.17 and its two-hundred day simple moving average is $125.29. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.89 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.63 EPS. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada raised their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $147.00.

Insider Buying and Selling

In related news, CEO Doug Black sold 29,760 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 596,684 shares of the company's stock, valued at approximately $77,139,307.52. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 13,663 shares in the company, valued at approximately $1,725,363.64. The trade was a 74.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is currently owned by insiders.

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.