Allianz Asset Management GmbH Trims Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Allianz Asset Management GmbH lowered its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 646,204 shares of the industrial products company's stock after selling 84,148 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.44% of SiteOne Landscape Supply worth $78,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SITE. HM Payson & Co. purchased a new stake in SiteOne Landscape Supply in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC raised its stake in SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after buying an additional 139 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in SiteOne Landscape Supply during the fourth quarter valued at $40,000. Brown Brothers Harriman & Co. increased its holdings 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 worth $45,000 after purchasing an additional 273 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 worth $59,000 after purchasing an additional 95 shares in the last quarter.

Analyst Ratings Changes

SITE has been the subject of several research analyst reports. Wall Street Zen lowered SiteOne Landscape Supply from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Truist Financial cut their price objective on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Royal Bank Of Canada cut their price objective on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on SiteOne Landscape Supply in a report on Tuesday, April 1st. They set a "hold" rating and a $135.00 price target for the company. Finally, Barclays cut their price target on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Price Performance

Shares of NYSE:SITE traded down $1.09 during mid-day trading on Thursday, reaching $130.31. The stock had a trading volume of 330,641 shares, compared to its average volume of 495,104. SiteOne Landscape Supply, Inc. has a 1 year low of $101.25 and a 1 year high of $160.74. The company has a current ratio of 2.36, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The business's 50 day moving average price is $122.43 and its 200 day moving average price is $125.34. The company has a market cap of $5.84 billion, a P/E ratio of 51.87, a price-to-earnings-growth ratio of 2.11 and a beta of 1.55.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly 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 business had revenue of $939.40 million during the quarter, compared to analysts' expectations of $933.90 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total value of $5,005,739.20. Following the transaction, the executive vice president owned 13,663 shares of the company's stock, valued at $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Doug Black sold 29,760 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 596,684 shares in the company, valued at $77,139,307.52. This trade represents a 4.75% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate 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.