SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in SiteOne Landscape Supply by 18.1%, selling 296,350 shares and owning 1,343,678 shares worth approximately $163 million as of the latest SEC filing.
• SiteOne reported a loss of $0.61 earnings per share in its latest quarterly results, which missed analysts' expectations, although revenue increased 3.8% year-over-year.
• The stock has a current market capitalization of $5.88 billion, with a P/E ratio of 52.29 and a consensus rating of "Hold" among analysts.

Baillie Gifford & Co. lessened its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,343,678 shares of the industrial products company's stock after selling 296,350 shares during the quarter. Baillie Gifford & Co. owned 3.00% of SiteOne Landscape Supply worth $163,176,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in SiteOne Landscape Supply by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company's stock worth $548,503,000 after buying an additional 49,256 shares during the period. Wasatch Advisors LP boosted its stake in SiteOne Landscape Supply by 9.7% during the fourth quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock worth $228,107,000 after buying an additional 153,447 shares during the period. Bamco Inc. NY boosted its stake in SiteOne Landscape Supply by 4.6% during the fourth quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock worth $217,786,000 after buying an additional 72,430 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in SiteOne Landscape Supply by 6.1% during the fourth 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 buying an additional 91,719 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in SiteOne Landscape Supply by 1.4% during the first 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 period.

SiteOne Landscape Supply Stock Down 0.1%

Shares of SiteOne Landscape Supply stock opened at $131.26 on Friday. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $160.74. The company has a 50 day moving average of $122.59 and a 200 day moving average of $125.34. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.88 billion, a P/E ratio of 52.29, a P/E/G ratio of 2.15 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 (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $939.40 million during the quarter, compared to analysts' expectations of $933.90 million. During the same quarter in the prior year, the firm earned ($0.43) EPS. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 approximately $1,725,363.64. This trade represents a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Doug Black sold 29,760 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the sale, the chief executive officer directly owned 596,684 shares in the company, valued at approximately $77,139,307.52. The trade was a 4.75% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SITE shares. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank Of Canada lowered their price objective on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Truist Financial lowered their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wall Street Zen lowered shares of SiteOne Landscape Supply from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Stifel Nicolaus lowered their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $145.70.

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.

Want to see what other hedge funds are holding SITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.