Handelsinvest Investeringsforvaltning Sells 839 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Handelsinvest Investeringsforvaltning decreased its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 34.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,616 shares of the industrial products company’s stock after selling 839 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in SiteOne Landscape Supply were worth $282,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of SiteOne Landscape Supply by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,134,723 shares of the industrial products company’s stock valued at $671,892,000 after buying an additional 32,538 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of SiteOne Landscape Supply by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,104,494 shares of the industrial products company’s stock valued at $179,480,000 after buying an additional 6,620 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of SiteOne Landscape Supply by 47.8% during the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock valued at $172,211,000 after buying an additional 319,071 shares during the last quarter. Jackson Square Partners LLC grew its stake in shares of SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock valued at $131,588,000 after buying an additional 165,067 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in SiteOne Landscape Supply by 14.7% in the fourth quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock worth $129,724,000 after purchasing an additional 102,207 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SITE. Barclays dropped their price objective on SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 5th. Stifel Nicolaus dropped their price objective on SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Robert W. Baird dropped their price objective on SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Truist Financial dropped their price objective on SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, Loop Capital lowered their target price on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $153.63.

SiteOne Landscape Supply Stock Up 0.7 %

Shares of SITE traded up $0.82 during midday trading on Wednesday, hitting $117.39. 4,661 shares of the company’s stock traded hands, compared to its average volume of 339,062. SiteOne Landscape Supply, Inc. has a 1 year low of $115.55 and a 1 year high of $188.01. The firm’s fifty day moving average is $144.16 and its 200-day moving average is $157.81. The company has a current ratio of 2.36, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 33.79 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The business had revenue of $904.80 million for the quarter, compared to analysts’ expectations of $864.01 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.81 earnings per share for the current year.

Insider Activity

In related news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the transaction, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.