Picton Mahoney Asset Management Reduces Stock Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Picton Mahoney Asset Management lowered its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 98.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 735 shares of the industrial products company's stock after selling 45,731 shares during the period. Picton Mahoney Asset Management's holdings in SiteOne Landscape Supply were worth $120,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in shares of SiteOne Landscape Supply during the third quarter worth $26,000. Operose Advisors LLC acquired a new position in shares of SiteOne Landscape Supply during the third quarter worth $28,000. GAMMA Investing LLC acquired a new position in shares of SiteOne Landscape Supply during the fourth quarter worth $38,000. iA Global Asset Management Inc. acquired a new position in shares of SiteOne Landscape Supply during the third quarter worth $105,000. Finally, Signaturefd LLC lifted its holdings in SiteOne Landscape Supply by 127.4% in the third quarter. Signaturefd LLC now owns 723 shares of the industrial products company's stock valued at $118,000 after buying an additional 405 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SITE shares. Truist Financial dropped their target price on shares of SiteOne Landscape Supply from $204.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada lifted their price target 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. Barclays decreased their price target on shares of SiteOne Landscape Supply from $145.00 to $133.00 and set an "underweight" rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus raised shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and decreased their price target for the company from $167.00 to $165.00 in a research note on Thursday, May 2nd. Finally, Robert W. Baird lifted their price target 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $167.50.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the sale, the chief executive officer now owns 574,657 shares of the company's stock, valued at approximately $101,340,761.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the transaction, the chief financial officer now owns 15,467 shares of the company's stock, valued at approximately $2,784,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Doug Black sold 10,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $101,340,761.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,000 shares of company stock worth $3,924,500. 2.70% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Stock Performance

SITE traded down $0.56 during midday trading on Friday, reaching $156.63. The company had a trading volume of 375,467 shares, compared to its average volume of 317,842. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 2.36. The stock has a market cap of $7.08 billion, a PE ratio of 45.56 and a beta of 1.53. SiteOne Landscape Supply, Inc. has a 12-month low of $116.81 and a 12-month high of $188.01. The business has a 50-day moving average price of $168.63 and a two-hundred day moving average price of $157.06.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.22). The business had revenue of $904.80 million for the quarter, compared to analysts' expectations of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) earnings per share. On average, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 4.02 earnings per share for the current fiscal year.

About SiteOne Landscape Supply

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.