Swiss National Bank Trims Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Swiss National Bank cut its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,300 shares of the industrial products company’s stock after selling 500 shares during the quarter. Swiss National Bank owned approximately 0.20% of SiteOne Landscape Supply worth $13,325,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its holdings in SiteOne Landscape Supply by 20.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,601 shares of the industrial products company’s stock worth $279,000 after buying an additional 270 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at about $126,000. Toronto Dominion Bank purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter valued at about $29,000. 1832 Asset Management L.P. acquired a new position in SiteOne Landscape Supply in the 1st quarter worth about $505,000. Finally, Bayesian Capital Management LP purchased a new position in SiteOne Landscape Supply during the first quarter worth approximately $1,258,000.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the sale, the executive vice president now owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank of Canada reduced their target price on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Barclays increased their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Robert W. Baird boosted their target price on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group began coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target on the stock. Finally, Truist Financial boosted their price objective on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $147.80.

SiteOne Landscape Supply Price Performance

SITE stock opened at $148.77 on Friday. SiteOne Landscape Supply, Inc. has a 1 year low of $114.60 and a 1 year high of $188.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The firm has a market capitalization of $6.71 billion, a PE ratio of 48.15 and a beta of 1.53. The business has a 50 day simple moving average of $145.80 and a 200-day simple moving average of $140.61.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business earned $1.25 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.41 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.