SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in SiteOne Landscape Supply by 1.3%, now holding approximately 223,300 shares valued at $27.1 million.
• Analysts are mixed on SiteOne Landscape Supply, with target prices ranging from $106 to $145 and a consensus rating of "Hold."
• SiteOne Landscape Supply reported a loss of ($0.61) EPS for the recent quarter, missing estimates, but its revenue increased by 3.8% year-over-year to $939.4 million.

Skandinaviska Enskilda Banken AB publ cut its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,300 shares of the industrial products company's stock after selling 3,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.50% of SiteOne Landscape Supply worth $27,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SITE. Raymond James Financial Inc. acquired a new position in shares of SiteOne Landscape Supply during the fourth quarter worth about $40,676,000. Artisan Partners Limited Partnership lifted its stake in SiteOne Landscape Supply by 137.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 368,142 shares of the industrial products company's stock worth $48,510,000 after purchasing an additional 212,907 shares during the last quarter. BLI Banque de Luxembourg Investments purchased a new stake in SiteOne Landscape Supply during the fourth quarter worth approximately $22,787,000. Wasatch Advisors LP lifted 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 purchasing an additional 153,447 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted 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 purchasing an additional 91,719 shares during the last quarter.

Wall Street Analysts Forecast Growth

SITE has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on 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. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada cut their target price on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They set a "hold" rating and a $135.00 target price on the stock. Finally, Barclays cut 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 given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $132.58 on Friday. The company has a current ratio of 2.36, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74. The stock has a 50 day moving average of $122.73 and a two-hundred day moving average of $125.36. The stock has a market cap of $5.94 billion, a P/E ratio of 52.82, a P/E/G ratio of 2.15 and a beta of 1.55.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS 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 for the quarter, compared to analysts' expectations of $933.90 million. During the same quarter last year, the company earned ($0.43) EPS. SiteOne Landscape Supply's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

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 sale, the executive vice president owned 13,663 shares in the company, valued at $1,725,363.64. This 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 is available through this link. Also, CEO Doug Black sold 29,760 shares of the company'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 value of $3,847,372.80. Following the sale, the chief executive officer owned 596,684 shares of the company's stock, 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.

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.

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