Pembroke Management LTD Sells 3,344 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Pembroke Management LTD reduced its stake in SiteOne Landscape Supply by 1.6%, now holding approximately 206,664 shares worth $25,097,000, making it the firm's 5th largest position.
• Insider selling included CEO Doug Black offloading 29,760 shares for over $3.8 million, resulting in a 4.75% decrease in his holdings.
• The company's stock received a rating upgrade from Wall Street Zen from "sell" to "hold," while four analysts rated it a "buy" and one assigned a "sell" rating.

Pembroke Management LTD reduced its position in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 206,664 shares of the industrial products company's stock after selling 3,344 shares during the quarter. SiteOne Landscape Supply comprises approximately 3.7% of Pembroke Management LTD's investment portfolio, making the stock its 5th largest position. Pembroke Management LTD owned about 0.46% of SiteOne Landscape Supply worth $25,097,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SITE. State of Wyoming boosted its position in shares of SiteOne Landscape Supply by 18.4% in the first quarter. State of Wyoming now owns 1,644 shares of the industrial products company's stock worth $200,000 after buying an additional 255 shares during the period. B. Metzler seel. Sohn & Co. AG increased its stake in shares of SiteOne Landscape Supply by 9.0% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 32,549 shares of the industrial products company's stock worth $3,953,000 after purchasing an additional 2,690 shares during the period. Zuckerman Investment Group LLC increased its stake in SiteOne Landscape Supply by 6.2% during the first quarter. Zuckerman Investment Group LLC now owns 54,430 shares of the industrial products company's stock valued at $6,610,000 after acquiring an additional 3,165 shares during the period. Hill City Capital LP bought a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $5,131,000. Finally, Comerica Bank lifted its stake in shares of SiteOne Landscape Supply by 12.2% in the 1st quarter. Comerica Bank now owns 108,203 shares of the industrial products company's stock valued at $13,140,000 after purchasing an additional 11,750 shares during the period.

Insider Activity

In related news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the transaction, the chief executive officer owned 600,446 shares in the company, valued at approximately $79,312,912.14. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 13,663 shares in the company, valued at approximately $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,784 shares of company stock worth $9,828,465 over the last three months. 2.60% of the stock is owned by insiders.

SiteOne Landscape Supply Stock Performance

NYSE SITE traded down $1.33 during trading hours on Tuesday, hitting $141.91. The company had a trading volume of 350,793 shares, compared to its average volume of 515,132. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The firm has a market cap of $6.33 billion, a P/E ratio of 51.79, a price-to-earnings-growth ratio of 2.39 and a beta of 1.60. The business has a fifty day simple moving average of $133.14 and a 200-day simple moving average of $125.19.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.89 by ($0.03). SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned $2.63 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. Equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply presently has an average rating of "Hold" and a consensus target price of $147.00.

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.