Arizona State Retirement System Lowers Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Arizona State Retirement System cut its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,943 shares of the industrial products company’s stock after selling 153 shares during the quarter. Arizona State Retirement System’s holdings in SiteOne Landscape Supply were worth $1,572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. grew its holdings in SiteOne Landscape Supply by 10.8% in the first quarter. Xponance Inc. now owns 3,845 shares of the industrial products company’s stock valued at $467,000 after purchasing an additional 375 shares during the period. Brown Advisory Inc. grew its holdings in SiteOne Landscape Supply by 0.8% in the first quarter. Brown Advisory Inc. now owns 516,821 shares of the industrial products company’s stock valued at $62,763,000 after purchasing an additional 4,179 shares during the period. HM Payson & Co. purchased a new stake in SiteOne Landscape Supply in the first quarter valued at approximately $25,000. OneDigital Investment Advisors LLC grew its stake in SiteOne Landscape Supply by 22.3% during the first quarter. OneDigital Investment Advisors LLC now owns 1,877 shares of the industrial products company’s stock worth $228,000 after buying an additional 342 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in SiteOne Landscape Supply by 124.5% during the first quarter. Teacher Retirement System of Texas now owns 8,886 shares of the industrial products company’s stock worth $1,079,000 after buying an additional 4,927 shares during the period.

Insider Transactions at SiteOne Landscape Supply

In related news, CEO Doug Black sold 29,760 shares of the stock in a transaction dated 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 completion of 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were 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 of the company’s stock, valued at approximately $1,725,363.64. This trade represents a 74.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

SiteOne Landscape Supply Stock Down 0.9%

SiteOne Landscape Supply stock opened at $124.27 on Friday. The company has a 50-day simple moving average of $122.36 and a 200-day simple moving average of $125.40. The firm has a market capitalization of $5.57 billion, a P/E ratio of 49.51, a P/E/G ratio of 2.06 and a beta of 1.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 2.36. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.75.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.11). The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $933.90 million. SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. As a group, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

SITE has been the subject of several research reports. Wall Street Zen downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Friday. Loop Capital decreased their price objective on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Royal Bank Of Canada decreased their target price on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. Truist Financial decreased their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a “hold” rating and a $135.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $145.70.

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.