Thrive Wealth Management LLC Sells 389 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Thrive Wealth Management LLC lowered its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 20.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,502 shares of the industrial products company’s stock after selling 389 shares during the quarter. Thrive Wealth Management LLC’s holdings in SiteOne Landscape Supply were worth $251,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in SiteOne Landscape Supply in the second quarter valued at about $29,000. Bessemer Group Inc. raised its holdings in shares of SiteOne Landscape Supply by 383.3% in the 4th quarter. Bessemer Group Inc. now owns 261 shares of the industrial products company’s stock worth $30,000 after buying an additional 207 shares in the last quarter. Covestor Ltd lifted its position in shares of SiteOne Landscape Supply by 113.5% during the 1st quarter. Covestor Ltd now owns 331 shares of the industrial products company’s stock worth $54,000 after buying an additional 176 shares during the period. Key Financial Inc acquired a new stake in SiteOne Landscape Supply in the 1st quarter valued at $62,000. Finally, International Assets Investment Management LLC bought a new stake in SiteOne Landscape Supply in the first quarter valued at $100,000.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, CEO Doug Black sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $167.33, for a total transaction of $1,338,640.00. Following the completion of the sale, the chief executive officer now directly owns 558,886 shares of the company’s stock, valued at $93,518,394.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Doug Black sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $167.33, for a total value of $1,338,640.00. Following the transaction, the chief executive officer now directly owns 558,886 shares in the company, valued at approximately $93,518,394.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John T. Guthrie sold 1,028 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $164.47, for a total value of $169,075.16. Following the completion of the sale, the chief financial officer now 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. In the last three months, insiders have sold 17,028 shares of company stock worth $2,762,035. Company insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SITE shares. Truist Financial lifted their price objective on SiteOne Landscape Supply from $177.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. StockNews.com initiated coverage on shares of SiteOne Landscape Supply in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Stifel Nicolaus raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their price objective for the stock from $160.00 to $185.00 in a report on Monday, August 7th. Finally, Barclays downgraded SiteOne Landscape Supply from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $146.00 to $144.00 in a report on Wednesday, May 24th. One analyst has 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, the stock has a consensus rating of “Hold” and a consensus price target of $164.00.

SiteOne Landscape Supply Stock Performance

SITE stock opened at $157.81 on Tuesday. The company has a 50 day moving average price of $164.14 and a 200 day moving average price of $152.47. 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 current ratio of 2.32 and a quick ratio of 1.06. The stock has a market capitalization of $7.11 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 8.31 and a beta of 1.48.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.07 earnings per share. Analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current 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 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.