UBS Group AG Has $27.88 Million Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• UBS Group AG cut its SiteOne Landscape Supply stake by 52.7% in the fourth quarter, selling 249,406 shares and ending with 223,811 shares valued at about $27.88 million.
• SiteOne reported weaker-than-expected quarterly results, posting a loss of $0.60 per share versus estimates for a $0.33 loss, while revenue of $940.1 million also fell short of expectations.
• Analysts remain mixed but slightly constructive, with several price-target adjustments and a consensus rating of “Hold” on the stock, which recently traded down to $120.92, near its 52-week low.

UBS Group AG lessened its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 52.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,811 shares of the industrial products company's stock after selling 249,406 shares during the period. UBS Group AG owned about 0.50% of SiteOne Landscape Supply worth $27,878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC increased its stake in SiteOne Landscape Supply by 541.9% in the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares during the last quarter. NewEdge Advisors LLC increased its stake in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock valued at $48,000 after buying an additional 107 shares during the last quarter. Danske Bank A S purchased a new stake in SiteOne Landscape Supply in the 3rd quarter valued at about $52,000. Tower Research Capital LLC TRC increased its stake in SiteOne Landscape Supply by 145.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company's stock valued at $55,000 after buying an additional 270 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in SiteOne Landscape Supply by 276.5% in the 3rd quarter. Bessemer Group Inc. now owns 448 shares of the industrial products company's stock valued at $58,000 after buying an additional 329 shares during the last quarter.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the completion of the transaction, the executive vice president directly owned 2,911 shares of the company's stock, valued at $459,967.11. This represents a 37.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Stifel Nicolaus upgraded shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $157.00 price objective for the company in a research note on Monday, May 4th. Robert W. Baird set a $160.00 price objective on shares of SiteOne Landscape Supply in a research note on Thursday, April 30th. Truist Financial increased their price objective on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Bank of America decreased their price objective on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating for the company in a research note on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.10.

SiteOne Landscape Supply Stock Down 3.3%

SiteOne Landscape Supply stock opened at $120.92 on Friday. SiteOne Landscape Supply, Inc. has a twelve month low of $112.23 and a twelve month high of $168.56. The firm has a 50 day moving average price of $134.65 and a 200-day moving average price of $135.10. The company has a market capitalization of $5.36 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.58 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39.

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

SiteOne Landscape Supply Profile

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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