Kayne Anderson Rudnick Investment Management LLC Reduces Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its holdings in SiteOne Landscape Supply by 4.7% during the 1st quarter, now owning approximately 7.08% of the company worth $385.1 million.
• SiteOne Landscape Supply's share price opened at $147.20, with recent earnings showing a miss of $0.03 per share compared to consensus estimates.
• Insider sales included Joseph Ketter selling 39,640 shares, representing a 74.37% decrease in his position, and CEO Doug Black selling 7,384 shares.

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 4.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,171,508 shares of the industrial products company's stock after selling 154,990 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 7.08% of SiteOne Landscape Supply worth $385,148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HM Payson & Co. bought a new stake in shares of SiteOne Landscape Supply during the 1st quarter worth approximately $25,000. Brooklyn Investment Group bought a new stake in shares of SiteOne Landscape Supply during the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC lifted its stake in shares of SiteOne Landscape Supply by 106.1% during the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after acquiring an additional 139 shares during the last quarter. Eastern Bank bought a new stake in shares of SiteOne Landscape Supply during the 1st quarter worth approximately $38,000. Finally, GAMMA Investing LLC lifted its stake in shares of SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after acquiring an additional 95 shares during the last quarter.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black sold 29,760 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 596,684 shares of the company's stock, valued at approximately $77,139,307.52. The trade was a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction 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 in the company, valued at approximately $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. Over the last three months, insiders sold 76,784 shares of company stock valued at $9,828,465. Corporate insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Stock Down 0.3%

Shares of SITE traded down $0.48 during trading hours on Tuesday, hitting $143.90. The company had a trading volume of 346,606 shares, compared to its average volume of 640,013. The company has a market capitalization of $6.42 billion, a PE ratio of 52.52, a price-to-earnings-growth ratio of 2.41 and a beta of 1.54. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74. The company's fifty day moving average price is $131.04 and its two-hundred day moving average price is $125.12.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The company's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 earnings per share. As a group, equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Truist Financial decreased their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, 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 report on Monday, April 28th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $147.00.

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.