SiteOne Landscape Supply, Inc. $SITE Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 1.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,446 shares of the industrial products company’s stock after selling 127 shares during the quarter. Park Avenue Securities LLC’s holdings in SiteOne Landscape Supply were worth $901,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new position in SiteOne Landscape Supply during the 1st quarter valued at about $25,000. Brooklyn Investment Group acquired a new position in shares of SiteOne Landscape Supply in the first quarter valued at about $32,000. Golden State Wealth Management LLC increased its holdings in shares of SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 139 shares during the period. Eastern Bank acquired a new position in shares of SiteOne Landscape Supply in the first quarter valued at about $38,000. Finally, NewEdge Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 107 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SITE. Loop Capital raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their price objective for the company from $150.00 to $160.00 in a report on Friday, September 19th. Wall Street Zen raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada increased their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $150.50.

SiteOne Landscape Supply Stock Up 0.5%

SiteOne Landscape Supply stock opened at $129.08 on Friday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 47.11, a price-to-earnings-growth ratio of 2.16 and a beta of 1.60. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The business’s 50-day moving average price is $138.34 and its 200 day moving average price is $126.38. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The firm’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $2.63 earnings per share. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Insider Buying and Selling

In other SiteOne Landscape Supply 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 transaction, the executive vice president owned 13,663 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Doug Black sold 29,760 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $129.28, for a total value of $3,847,372.80. Following the transaction, the chief executive officer owned 596,684 shares in the company, valued at $77,139,307.52. This represents a 4.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,784 shares of company stock worth $9,828,465 in the last quarter. 2.60% of the stock is currently owned by company insiders.

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.