Swiss National Bank Lowers Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Posted by Defense World Staff on Aug 24th, 2023

Swiss National Bank cut its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE – Free Report) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,300 shares of the industrial products company’s stock after selling 11,400 shares during the quarter. Swiss National Bank owned 0.22% of SiteOne Landscape Supply worth $13,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in shares of SiteOne Landscape Supply by 35.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,990 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 776 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of SiteOne Landscape Supply by 1.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 48,471 shares of the industrial products company’s stock valued at $6,634,000 after acquiring an additional 847 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of SiteOne Landscape Supply by 16.6% in the first quarter. Bank of New York Mellon Corp now owns 364,523 shares of the industrial products company’s stock valued at $49,892,000 after acquiring an additional 51,984 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of SiteOne Landscape Supply by 7.3% in the first quarter. Russell Investments Group Ltd. now owns 56,584 shares of the industrial products company’s stock valued at $7,692,000 after acquiring an additional 3,853 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of SiteOne Landscape Supply by 1.4% in the first quarter. Brown Advisory Inc. now owns 231,377 shares of the industrial products company’s stock valued at $31,669,000 after acquiring an additional 3,276 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Loop Capital upped their target price on SiteOne Landscape Supply from $155.00 to $175.00 in a report on Thursday, May 4th. Truist Financial upped their target price on SiteOne Landscape Supply from $177.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on SiteOne Landscape Supply from $163.00 to $153.00 in a report on Friday, May 5th. Robert W. Baird increased their price objective on SiteOne Landscape Supply from $163.00 to $170.00 in a report on Thursday, May 4th. Finally, Barclays lowered SiteOne Landscape Supply from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $146.00 to $144.00 in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average price target of $164.00.

Check Out Our Latest Stock Analysis on SITE

Insider Activity

In other news, EVP L Briley Brisendine, Jr. sold 2,900 shares of SiteOne Landscape Supply stock in a transaction on Friday, June 16th. The stock was sold at an average price of $160.00, for a total value of $464,000.00. Following the completion of the transaction, the executive vice president now directly owns 8,322 shares in the company, valued at $1,331,520. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP L Briley Brisendine, Jr. sold 2,900 shares of SiteOne Landscape Supply stock in a transaction on Friday, June 16th. The stock was sold at an average price of $160.00, for a total transaction of $464,000.00. Following the completion of the sale, the executive vice president now owns 8,322 shares of the company’s stock, valued at $1,331,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John T. Guthrie sold 1,028 shares of SiteOne Landscape Supply stock in a transaction on Monday, August 7th. The shares were sold at an average price of $164.47, for a total value of $169,075.16. Following the sale, the chief financial officer now directly owns 15,050 shares of the company’s stock, valued at approximately $2,475,273.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,928 shares of company stock worth $1,971,715. 2.70% of the stock is owned by corporate insiders.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $157.60 on Thursday. The stock has a market cap of $7.10 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 8.01 and a beta of 1.48. SiteOne Landscape Supply, Inc. has a fifty-two week low of $97.36 and a fifty-two week high of $176.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.06 and a current ratio of 2.32. The stock has a fifty day moving average of $163.91 and a 200-day moving average of $150.84.

SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. SiteOne Landscape Supply had a return on equity of 14.31% and a net margin of 4.59%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.07 earnings per share. Equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.98 earnings per share for the current year.

SiteOne Landscape Supply Company Profile

(Free Report)

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 a selection of approximately 155,000 stock keeping units, including irrigation supplies, which comprise controllers, valves, sprinkler heads, and irrigation pipes; 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; 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.