SiteOne Landscape Supply, Inc. (SITE) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 41.3% during the second quarter, Holdings Channel reports. The firm owned 17,800 shares of the industrial products company’s stock after selling 12,500 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in SiteOne Landscape Supply were worth $927,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. State Street Corp raised its stake in shares of SiteOne Landscape Supply by 9.2% in the fourth quarter. State Street Corp now owns 186,643 shares of the industrial products company’s stock worth $6,481,000 after buying an additional 15,648 shares during the period. FMR LLC acquired a new position in SiteOne Landscape Supply during the fourth quarter valued at $1,598,000. UBS Asset Management Americas Inc. acquired a new position in SiteOne Landscape Supply during the fourth quarter valued at $219,000. Teachers Advisors LLC raised its position in SiteOne Landscape Supply by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 18,882 shares of the industrial products company’s stock valued at $656,000 after buying an additional 711 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in SiteOne Landscape Supply during the first quarter valued at $1,589,000. 89.72% of the stock is currently owned by institutional investors.

SiteOne Landscape Supply, Inc. (NYSE SITE) opened at 52.78 on Tuesday. SiteOne Landscape Supply, Inc. has a 12 month low of $26.60 and a 12 month high of $53.87. The firm’s market capitalization is $2.10 billion. The firm has a 50-day moving average price of $52.05 and a 200 day moving average price of $46.66.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, May 10th. The industrial products company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The firm had revenue of $335 million for the quarter, compared to the consensus estimate of $335.53 million. SiteOne Landscape Supply had a return on equity of 22.88% and a net margin of 1.55%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.85) EPS. On average, equities analysts forecast that SiteOne Landscape Supply, Inc. will post $1.40 EPS for the current year.

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Several research analysts recently weighed in on SITE shares. Zacks Investment Research raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, April 19th. Royal Bank Of Canada reissued a “buy” rating and set a $52.00 price target on shares of SiteOne Landscape Supply in a research report on Monday, May 8th. Finally, Johnson Rice started coverage on SiteOne Landscape Supply in a research report on Monday, May 15th. They set an “accumulate” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.00.

In related news, CEO Doug Black bought 6,200 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average price of $50.76 per share, with a total value of $314,712.00. Following the completion of the transaction, the chief executive officer now owns 400,743 shares in the company, valued at $20,341,714.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by insiders.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

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Institutional Ownership by Quarter for SiteOne Landscape Supply (NYSE:SITE)

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