Russell Investments Group Ltd. Has $8.38 Million Stake in SiteOne Landscape Supply, Inc. $SITE

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. reduced its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & 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 approximately 0.15% of SiteOne Landscape Supply worth $8,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. HM Payson & Co. bought a new stake in shares of SiteOne Landscape Supply during the first quarter valued at approximately $25,000. Golden State Wealth Management LLC increased its position in shares of SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 139 shares during the period. Eastern Bank bought a new stake in shares of SiteOne Landscape Supply during the first quarter valued at approximately $38,000. GAMMA Investing LLC increased its position in shares of SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after purchasing an additional 95 shares during the period. Finally, State of Wyoming increased its position in shares of SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock valued at $183,000 after purchasing an additional 81 shares during the period.

Insider Activity

In other SiteOne Landscape Supply news, 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 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 represents a 74.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Doug Black sold 7,384 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the transaction, the chief executive officer directly owned 600,446 shares of the company's stock, valued at $79,312,912.14. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,784 shares of company stock valued at $9,828,465 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Trading Up 6.6%

Shares of SITE traded up $9.17 during trading hours on Friday, hitting $147.20. 562,405 shares of the stock traded hands, compared to its average volume of 652,742. 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 1-year low of $101.25 and a 1-year high of $160.74. The firm has a market capitalization of $6.57 billion, a PE ratio of 53.72, a price-to-earnings-growth ratio of 2.30 and a beta of 1.54. The business has a fifty day moving average of $129.99 and a 200-day moving average of $125.07.

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 analysts' consensus estimates 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 net margin of 2.69% and a return on equity of 7.80%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.63 EPS. Analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on 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. Royal Bank Of Canada boosted their price objective on 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. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Truist Financial decreased their price target on 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. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $147.00.

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.