SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by First Merchants Corp

First Merchants Corp cut its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 44.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,848 shares of the industrial products company's stock after selling 6,407 shares during the period. First Merchants Corp's holdings in SiteOne Landscape Supply were worth $1,275,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new stake in shares of SiteOne Landscape Supply in the third quarter worth about $26,000. Operose Advisors LLC purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new position in shares of SiteOne Landscape Supply during the 2nd quarter valued at approximately $29,000. Impact Partnership Wealth LLC purchased a new position in shares of SiteOne Landscape Supply in the third quarter valued at $30,000. Finally, Bessemer Group Inc. increased its position in SiteOne Landscape Supply by 383.3% in the fourth quarter. Bessemer Group Inc. now owns 261 shares of the industrial products company's stock worth $30,000 after purchasing an additional 207 shares during the last quarter.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock traded up $4.43 during trading on Monday, hitting $174.15. 265,295 shares of the company's stock were exchanged, compared to its average volume of 305,336. SiteOne Landscape Supply, Inc. has a 52-week low of $116.81 and a 52-week high of $188.01. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.43. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 46.07 and a beta of 1.54. The business has a 50-day simple moving average of $169.04 and a 200-day simple moving average of $156.31.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.07. The business had revenue of $965.00 million during the quarter, compared to analysts' expectations of $942.21 million. SiteOne Landscape Supply had a return on equity of 12.13% and a net margin of 4.03%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 4.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Barclays boosted their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an "underweight" rating in a report on Thursday, February 15th. Royal Bank of Canada raised their target price on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a "sector perform" rating in a research note on Thursday, February 15th. Robert W. Baird upped their price target on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. Finally, Loop Capital cut SiteOne Landscape Supply from a "buy" rating to a "hold" rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $172.88.

Insiders Place Their Bets

In related news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $153.29, for a total value of $1,532,900.00. Following the sale, the chief executive officer now owns 580,886 shares of the company's stock, valued at approximately $89,044,014.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Doug Black sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $153.29, for a total value of $1,532,900.00. Following the completion of the transaction, the chief executive officer now owns 580,886 shares in the company, valued at approximately $89,044,014.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,000 shares of company stock worth $3,836,400. Corporate insiders own 2.60% of the company's stock.

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.