Geneva Capital Management LLC Cuts Stock Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

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 lowered its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 709,271 shares of the industrial products company's stock after selling 3,623 shares during the period. SiteOne Landscape Supply makes up 1.6% of Geneva Capital Management LLC's portfolio, making the stock its 19th biggest position. Geneva Capital Management LLC owned about 1.58% of SiteOne Landscape Supply worth $86,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wasatch Advisors LP grew its holdings in shares of SiteOne Landscape Supply by 9.7% during the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock valued at $228,107,000 after acquiring an additional 153,447 shares in the last quarter. Bamco Inc. NY grew its stake in SiteOne Landscape Supply by 4.6% in the fourth 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its position in SiteOne Landscape Supply by 6.1% in the 4th 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 purchasing an additional 91,719 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of SiteOne Landscape Supply by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock valued at $143,733,000 after buying an additional 16,120 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake 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 valued at $83,989,000 after buying an additional 73,010 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial lowered their price objective on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a report 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 company a "sector perform" rating in a research report on Thursday, July 31st. Stifel Nicolaus lowered their target price on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Hold" and a consensus price target of $147.00.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black sold 7,384 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $132.09, for a total transaction of $975,352.56. Following the sale, the chief executive officer directly owned 600,446 shares of the company's stock, valued at approximately $79,312,912.14. This represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the firm'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 in the company, valued at $1,725,363.64. This trade represents a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,784 shares of company stock valued at $9,828,465 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

SiteOne Landscape Supply Stock Down 0.9%

SiteOne Landscape Supply stock traded down $1.19 during midday trading on Thursday, reaching $134.94. The stock had a trading volume of 210,665 shares, compared to its average volume of 515,107. The stock has a market capitalization of $6.02 billion, a P/E ratio of 49.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74. The firm's fifty day simple moving average is $125.61 and its 200-day simple moving average is $125.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.63 EPS. As a group, analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

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.