SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC reduced its stake in SiteOne Landscape Supply by 0.5%, owning 709,271 shares, which constitutes 1.6% of its investment portfolio.
• Several institutional investors have modified their positions in SiteOne, with notable actions including HM Payson & Co. acquiring a new position worth about $25,000.
• SiteOne Landscape Supply reported Q2 earnings per share of $2.86, missing the consensus estimate, and the company has a current market cap of $6.09 billion.

Geneva Capital Management LLC lessened its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 709,271 shares of the industrial products company's stock after selling 3,623 shares during the quarter. SiteOne Landscape Supply accounts for 1.6% of Geneva Capital Management LLC's investment portfolio, making the stock its 19th biggest position. Geneva Capital Management LLC owned 1.58% of SiteOne Landscape Supply worth $86,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. HM Payson & Co. acquired a new position in shares of SiteOne Landscape Supply during the first quarter worth about $25,000. Golden State Wealth Management LLC lifted its stake in shares of 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 worth $33,000 after purchasing an additional 139 shares in the last quarter. Eastern Bank acquired a new position in shares of SiteOne Landscape Supply during the first quarter worth about $38,000. GAMMA Investing LLC lifted its stake in shares of SiteOne Landscape Supply by 24.3% during the first 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. Finally, State of Wyoming lifted its stake in shares of SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock worth $183,000 after purchasing an additional 81 shares in the last quarter.

Analyst Ratings Changes

SITE has been the topic of a number of recent research reports. Truist Financial reduced their price objective on 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 target price on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research report on Thursday. Stifel Nicolaus dropped their target price on 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. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Barclays dropped their target price on 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 issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $147.00.

Insider Activity

In related news, CEO Doug Black sold 7,384 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the sale, the chief executive officer directly owned 600,446 shares of the company's stock, valued at $79,312,912.14. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the completion of the sale, the executive vice president directly owned 13,663 shares of the company's stock, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Stock Down 1.0%

Shares of SiteOne Landscape Supply stock opened at $136.41 on Monday. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6.09 billion, a P/E ratio of 49.78, a P/E/G ratio of 2.28 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The business has a 50-day moving average price of $124.40 and a 200 day moving average price of $125.33.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.63 earnings per share. On average, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

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.

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