SiteOne Landscape Supply, Inc. $SITE Stock Holdings Trimmed by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its SiteOne Landscape Supply stake by 23.5% in the fourth quarter, selling 13,832 shares and leaving it with 45,069 shares worth about $5.6 million.
• Insider activity also showed selling, as Director Fred M. Diaz sold 562 shares in late May under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 4.75%.
• Analyst sentiment remains mixed but generally constructive: SiteOne has a Hold consensus rating with a $160.10 average price target, even after several firms recently raised targets or upgraded the stock to buy.

Legal & General Group Plc lowered its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,069 shares of the industrial products company's stock after selling 13,832 shares during the period. Legal & General Group Plc owned approximately 0.10% of SiteOne Landscape Supply worth $5,614,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SITE. True Wealth Design LLC raised its stake in SiteOne Landscape Supply by 541.9% during the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 168 shares in the last quarter. IFP Advisors Inc raised its stake in SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 107 shares during the period. Danske Bank A S acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at $52,000. Finally, Tower Research Capital LLC TRC increased its position in shares of SiteOne Landscape Supply by 145.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 270 shares during the period.

Insider Transactions at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 562 shares of SiteOne Landscape Supply stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director owned 11,267 shares of the company's stock, valued at approximately $1,267,762.84. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SITE. Royal Bank Of Canada lifted their price target on SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research report on Thursday, April 30th. Stifel Nicolaus upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $157.00 price target on the stock in a research report on Monday, May 4th. Robert W. Baird set a $160.00 target price on SiteOne Landscape Supply in a report on Thursday, April 30th. Finally, Truist Financial lifted their target price on SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of "Hold" and a consensus price target of $160.10.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock opened at $105.24 on Monday. SiteOne Landscape Supply, Inc. has a 1-year low of $100.52 and a 1-year high of $168.56. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 1.37 and a beta of 1.35. The stock's fifty day simple moving average is $125.23 and its 200-day simple moving average is $133.26.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.27). The firm had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. SiteOne Landscape Supply's revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.61) EPS. On average, sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 4.18 earnings per share for the current fiscal year.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

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