SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers Ltd reduced its stake in SiteOne Landscape Supply by 15.7%, maintaining approximately $41.63 million in holdings.
• Insider activity has seen key executives sell significant portions of their shares, including EVP Joseph Ketter and CEO Doug Black, indicating changes in management's investment positions.
• SiteOne Landscape Supply's stock is currently rated as a "Hold" by most analysts, with a consensus price target of $145.70 amidst recent price adjustments from various brokerages.

Premier Fund Managers Ltd lessened its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 15.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,855 shares of the industrial products company's stock after selling 63,883 shares during the period. SiteOne Landscape Supply comprises approximately 1.6% of Premier Fund Managers Ltd's holdings, making the stock its 29th largest holding. Premier Fund Managers Ltd owned about 0.76% of SiteOne Landscape Supply worth $41,631,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $40,676,000. BLI Banque de Luxembourg Investments purchased a new stake in SiteOne Landscape Supply during the 4th quarter valued at $22,787,000. Wasatch Advisors LP increased its stake in shares of SiteOne Landscape Supply by 9.7% in the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock worth $228,107,000 after purchasing an additional 153,447 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of 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 purchasing an additional 91,719 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of SiteOne Landscape Supply in the 1st quarter worth $9,695,000.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction on Friday, July 25th. The shares were sold at an average price of $132.09, for a total transaction of $975,352.56. Following the completion of the sale, the chief executive officer directly owned 600,446 shares in the company, valued at approximately $79,312,912.14. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction 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 sale, the executive vice president owned 13,663 shares of the company's stock, valued at $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,784 shares of company stock valued at $9,828,465 over the last quarter. Insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Stock Down 1.5%

SITE traded down $2.05 during trading on Friday, hitting $135.78. The stock had a trading volume of 525,091 shares, compared to its average volume of 514,669. The company has a market capitalization of $6.08 billion, a PE ratio of 49.83, a PEG ratio of 2.57 and a beta of 1.55. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 2.36. The stock has a 50 day simple moving average of $123.99 and a two-hundred day simple moving average of $125.51.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.86%. SiteOne Landscape Supply's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $2.63 earnings per share. On average, research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SITE. Loop Capital dropped their target price on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a report on Friday, April 4th. Truist Financial reduced their price objective on shares of 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. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Stifel Nicolaus reduced their target price on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Finally, Barclays reduced their target price on shares of 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $147.00.

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.