SiteOne Landscape Supply, Inc. $SITE Holdings Cut by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. sold 2,814 shares of SiteOne Landscape Supply, reducing its stake by 3.9% to a total of 68,968 shares, valued at approximately $8.4 million.
• SiteOne recently reported $2.86 EPS for the last quarter, missing estimates by $0.03, and generated $1.46 billion in revenue, below expectations of $1.49 billion.
• Several institutional investors increased their stakes in SiteOne, with notable purchases from Golden State Wealth Management, which boosted its stake by 106.1%.

Russell Investments Group Ltd. trimmed its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,968 shares of the industrial products company's stock after selling 2,814 shares during the period. Russell Investments Group Ltd. owned 0.15% of SiteOne Landscape Supply worth $8,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. 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 raised its holdings 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 valued at $33,000 after buying an additional 139 shares during the period. Eastern Bank acquired a new position in SiteOne Landscape Supply during the 1st quarter worth approximately $38,000. GAMMA Investing LLC boosted its holdings in SiteOne Landscape Supply by 24.3% in 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 period. Finally, State of Wyoming grew its position in SiteOne Landscape Supply by 6.2% in the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock valued at $183,000 after acquiring an additional 81 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on SITE shares. Stifel Nicolaus reduced 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 report on Monday, April 28th. Truist Financial dropped their price target on shares of 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. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada raised their target price on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, SiteOne Landscape Supply has a consensus rating of "Hold" and an average target price of $147.00.

Insider Activity at SiteOne Landscape Supply

In other news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction that occurred on 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 transaction, the chief executive officer owned 600,446 shares in the company, valued at approximately $79,312,912.14. This trade represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction that occurred on 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 owned 13,663 shares of the company's stock, 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 have sold 76,784 shares of company stock worth $9,828,465 in the last 90 days. 2.60% of the stock is currently owned by insiders.

SiteOne Landscape Supply Stock Down 1.8%

SITE stock traded down $2.5830 during mid-day trading on Monday, hitting $144.6370. 713,044 shares of the company were exchanged, compared to its average volume of 647,864. The firm has a fifty day simple moving average of $130.49 and a 200 day simple moving average of $124.99. The company has a market capitalization of $6.45 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 2.46 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74. 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 (NYSE:SITE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.63 EPS. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

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.