SiteOne Landscape Supply, Inc. (NYSE:SITE) Holdings Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325,484 shares of the industrial products company's stock after selling 2,438 shares during the quarter. Envestnet Asset Management Inc. owned about 0.72% of SiteOne Landscape Supply worth $39,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SITE. HM Payson & Co. bought a new stake in SiteOne Landscape Supply in the first quarter worth about $25,000. Golden State Wealth Management LLC raised its position in SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after acquiring an additional 139 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in SiteOne Landscape Supply in the fourth quarter worth about $40,000. Brown Brothers Harriman & Co. raised its position in SiteOne Landscape Supply by 395.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock worth $45,000 after acquiring an additional 273 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in SiteOne Landscape Supply by 24.3% in the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after acquiring an additional 95 shares in the last quarter.

Insider Activity at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 39,640 shares of the company'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 $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SITE shares. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Loop Capital cut their price objective on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Royal Bank Of Canada cut their price objective on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus cut their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on SiteOne Landscape Supply in a report on Tuesday, April 1st. They set a "hold" rating and a $135.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $145.70.

SiteOne Landscape Supply Stock Down 1.7%

SITE opened at $129.18 on Monday. The business has a 50 day moving average price of $121.89 and a 200 day moving average price of $125.57. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.75. 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 firm has a market cap of $5.79 billion, a P/E ratio of 51.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a return on equity of 7.31% and a net margin of 2.53%. The company had revenue of $939.40 million during the quarter, compared to analyst estimates of $933.90 million. During the same quarter last year, the firm posted ($0.43) earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

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.

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