abrdn plc Decreases Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

abrdn plc trimmed its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 212,366 shares of the industrial products company's stock after selling 55,202 shares during the quarter. abrdn plc owned 0.47% of SiteOne Landscape Supply worth $34,509,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Townsquare Capital LLC raised its holdings in SiteOne Landscape Supply by 1.1% during the 3rd quarter. Townsquare Capital LLC now owns 6,838 shares of the industrial products company's stock valued at $1,118,000 after buying an additional 74 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of SiteOne Landscape Supply by 0.9% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 9,456 shares of the industrial products company's stock worth $1,546,000 after acquiring an additional 80 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of SiteOne Landscape Supply by 5.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 1,717 shares of the industrial products company's stock worth $281,000 after acquiring an additional 88 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of SiteOne Landscape Supply by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 19,518 shares of the industrial products company's stock worth $3,190,000 after acquiring an additional 100 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of SiteOne Landscape Supply by 11.6% in the 3rd quarter. SG Americas Securities LLC now owns 1,093 shares of the industrial products company's stock worth $179,000 after acquiring an additional 114 shares in the last quarter.

Wall Street Analyst Weigh In

SITE has been the subject of a number of analyst reports. Barclays raised their price objective on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an "underweight" rating in a research note on Thursday, February 15th. Truist Financial raised their price objective 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. Loop Capital lowered shares of SiteOne Landscape Supply from a "buy" rating to a "hold" rating in a research note on Monday, January 8th. Robert W. Baird raised their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada raised their price objective 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $172.88.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CFO John T. Guthrie sold 3,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the sale, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the transaction, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Doug Black sold 10,000 shares of the business's stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock valued at $3,924,500 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

SiteOne Landscape Supply Stock Performance

Shares of SITE traded up $5.55 on Tuesday, reaching $162.55. The company's stock had a trading volume of 202,270 shares, compared to its average volume of 298,811. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.43 and a quick ratio of 1.10. The stock has a market capitalization of $7.35 billion, a P/E ratio of 41.79 and a beta of 1.54. The stock's 50 day simple moving average is $170.65 and its two-hundred day simple moving average is $156.71. SiteOne Landscape Supply, Inc. has a 12-month low of $116.81 and a 12-month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.07. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $942.21 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) earnings per share. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 4.04 earnings per share for the current fiscal year.

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.