Zuckerman Investment Group LLC Increases Stock Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Zuckerman Investment Group LLC increased its stake in SiteOne Landscape Supply, Inc. by 6.2% during the first quarter, owning 54,430 shares worth approximately $6.61 million.
• Significant insider selling occurred, with EVP Joseph Ketter selling 39,640 shares and CEO Doug Black selling 29,760 shares, reflecting a decrease of 74.37% and 4.75% in their ownership respectively.
• SiteOne Landscape Supply reported quarterly earnings of $2.86 per share, missing estimates by $0.03, and had a revenue of $1.46 billion, which was lower than the anticipated $1.49 billion.

Zuckerman Investment Group LLC increased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,430 shares of the industrial products company's stock after purchasing an additional 3,165 shares during the quarter. Zuckerman Investment Group LLC owned 0.12% of SiteOne Landscape Supply worth $6,610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SITE. HM Payson & Co. purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter worth $25,000. Brooklyn Investment Group bought a new position in shares of SiteOne Landscape Supply in the 1st quarter worth about $32,000. Golden State Wealth Management LLC boosted its stake in SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 139 shares during the period. Eastern Bank acquired a new stake in shares of SiteOne Landscape Supply during the 1st quarter worth approximately $38,000. Finally, GAMMA Investing LLC grew its stake in SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after buying an additional 95 shares during the last quarter.

Insider Buying and Selling

In other news, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Doug Black sold 29,760 shares of SiteOne Landscape Supply stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the completion of the transaction, the chief executive officer owned 596,684 shares of the company's stock, valued at $77,139,307.52. This trade represents a 4.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is currently owned by company insiders.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $144.6370 on Tuesday. 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 12-month low of $101.25 and a 12-month high of $160.74. The company's 50 day moving average is $130.49 and its 200-day moving average is $124.99. The firm has a market cap of $6.45 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 2.46 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted 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 return on equity of 7.80% and a net margin of 2.69%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company earned $2.63 earnings per share. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus cut their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a report on Monday, April 28th. Royal Bank Of Canada increased their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock 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 reduced their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $147.00.

SiteOne Landscape Supply 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.

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