Raymond James Financial Inc. Lowers Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Raymond James Financial Inc. reduced its stake in SiteOne Landscape Supply by 0.8%, holding a total of 306,248 shares valued at approximately $37.2 million after selling 2,446 shares in the first quarter.
• Insider transactions included CEO Doug Black selling 7,384 shares for about $975,352, marking a 1.21% decrease in his ownership, while EVP Joseph Ketter sold 39,640 shares, representing a 74.37% decrease in his stake.
• SiteOne's stock has shown a 6.6% increase, with a current price of $147.20, and analysts have mixed ratings with a consensus rating of "Hold" and a price target of $147.00.

Raymond James Financial Inc. trimmed its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 306,248 shares of the industrial products company's stock after selling 2,446 shares during the quarter. Raymond James Financial Inc. owned 0.68% of SiteOne Landscape Supply worth $37,191,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bamco Inc. NY grew its stake 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 valued at $217,786,000 after purchasing an additional 72,430 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of SiteOne Landscape Supply by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock worth $143,733,000 after buying an additional 16,120 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of SiteOne Landscape Supply by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 637,409 shares of the industrial products company's stock worth $83,989,000 after buying an additional 73,010 shares during the last quarter. Dimensional Fund Advisors LP grew its position in SiteOne Landscape Supply by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 631,328 shares of the industrial products company's stock valued at $83,190,000 after buying an additional 27,409 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in SiteOne Landscape Supply by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 555,858 shares of the industrial products company's stock worth $67,503,000 after buying an additional 2,951 shares during the last quarter.

SiteOne Landscape Supply Price Performance

NYSE SITE traded down $2.03 during trading hours on Thursday, hitting $143.03. The company had a trading volume of 123,478 shares, compared to its average volume of 515,418. 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 $6.38 billion, a price-to-earnings ratio of 52.19, a PEG ratio of 2.40 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The firm has a 50 day simple moving average of $131.60 and a 200 day simple moving average of $125.26.

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

Insider Buying and Selling at SiteOne Landscape Supply

In related news, 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 completion of the sale, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Doug Black sold 29,760 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 596,684 shares in the company, 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. In the last ninety days, insiders sold 76,784 shares of company stock worth $9,828,465. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial dropped their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada lifted their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $147.00.

SiteOne Landscape Supply Company 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.