Keynote Financial Services LLC Acquires New Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Keynote Financial Services LLC acquired a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the first quarter, HoldingsChannel.com reports. The firm acquired 1,651 shares of the industrial products company’s stock, valued at approximately $200,000.

Other hedge funds also recently bought and sold shares of the company. HM Payson & Co. purchased a new stake in SiteOne Landscape Supply during the first quarter valued at $25,000. Golden State Wealth Management LLC increased its position in SiteOne Landscape Supply by 106.1% during 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 last quarter. Eastern Bank purchased a new stake in SiteOne Landscape Supply during the first quarter valued at $38,000. GAMMA Investing LLC increased its position in SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 95 shares during the last quarter. Finally, State of Wyoming increased its position in SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 81 shares during the last quarter.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the completion of the transaction, the executive vice president directly owned 13,663 shares of the company’s stock, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Doug Black sold 29,760 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $129.28, for a total value of $3,847,372.80. Following the transaction, the chief executive officer directly owned 596,684 shares of the company’s stock, valued at approximately $77,139,307.52. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,784 shares of company stock valued at $9,828,465. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Stifel Nicolaus reduced their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Wall Street Zen upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Truist Financial reduced their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada upped their price target on 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $147.00.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $135.88 on Thursday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 2.32 and a beta of 1.54. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $125.61 and a 200-day moving average price of $125.45. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data 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). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $2.63 EPS. As a group, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS 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.