Putnam Investments LLC Sells 8,976 Shares of SiteOne Landscape Supply Inc (NYSE:SITE)

Putnam Investments LLC cut its stake in shares of SiteOne Landscape Supply Inc (NYSE:SITE) by 6.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,687 shares of the industrial products company’s stock after selling 8,976 shares during the quarter. Putnam Investments LLC’s holdings in SiteOne Landscape Supply were worth $8,641,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Advisory Services Network LLC raised its holdings in shares of SiteOne Landscape Supply by 40.1% in the second quarter. Advisory Services Network LLC now owns 664 shares of the industrial products company’s stock valued at $46,000 after buying an additional 190 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of SiteOne Landscape Supply by 5.4% in the first quarter. Stephens Inc. AR now owns 4,386 shares of the industrial products company’s stock valued at $251,000 after buying an additional 223 shares during the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of SiteOne Landscape Supply by 0.5% in the first quarter. Kennedy Capital Management Inc. now owns 63,485 shares of the industrial products company’s stock valued at $3,628,000 after buying an additional 315 shares during the last quarter. First Trust Advisors LP raised its holdings in SiteOne Landscape Supply by 4.9% during the 2nd quarter. First Trust Advisors LP now owns 7,342 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 342 shares during the last quarter. Finally, BB&T Corp raised its holdings in SiteOne Landscape Supply by 5.0% during the 2nd quarter. BB&T Corp now owns 7,567 shares of the industrial products company’s stock worth $525,000 after purchasing an additional 358 shares during the last quarter.

SITE has been the subject of several recent research reports. Berenberg Bank cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Zacks Investment Research cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. ValuEngine raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. TheStreet raised SiteOne Landscape Supply from a “c-” rating to a “b-” rating in a report on Thursday, June 13th. Finally, Robert W. Baird raised SiteOne Landscape Supply from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $64.00 to $77.00 in a report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. SiteOne Landscape Supply currently has a consensus rating of “Hold” and a consensus target price of $76.90.



In other news, VP Joseph Ketter sold 4,500 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $77.93, for a total transaction of $350,685.00. Following the completion of the transaction, the vice president now directly owns 10,233 shares in the company, valued at approximately $797,457.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Greg Weller sold 922 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $72.05, for a total value of $66,430.10. Following the transaction, the vice president now owns 10,361 shares of the company’s stock, valued at $746,510.05. The disclosure for this sale can be found here. Insiders have sold a total of 40,754 shares of company stock valued at $2,947,184 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Shares of SiteOne Landscape Supply stock traded down $3.33 during trading on Friday, hitting $74.48. 424,398 shares of the company were exchanged, compared to its average volume of 218,147. The firm has a market capitalization of $3.29 billion, a P/E ratio of 50.56 and a beta of 1.03. SiteOne Landscape Supply Inc has a 1-year low of $45.32 and a 1-year high of $83.35. The firm’s fifty day moving average price is $76.20 and its 200 day moving average price is $66.91. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.50 and a quick ratio of 1.13.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.10). The company had revenue of $752.40 million for the quarter, compared to analyst estimates of $774.03 million. SiteOne Landscape Supply had a return on equity of 22.24% and a net margin of 3.08%. SiteOne Landscape Supply’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 earnings per share. As a group, equities research analysts anticipate that SiteOne Landscape Supply Inc will post 1.62 earnings per share for the current year.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.

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Institutional Ownership by Quarter for SiteOne Landscape Supply (NYSE:SITE)

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