Swedbank AB Sells 31,000 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Swedbank AB cut its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 30.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,000 shares of the industrial products company’s stock after selling 31,000 shares during the period. Swedbank AB owned about 0.16% of SiteOne Landscape Supply worth $10,715,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of SiteOne Landscape Supply by 49.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock valued at $58,226,000 after purchasing an additional 158,350 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in SiteOne Landscape Supply by 130.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock worth $24,065,000 after purchasing an additional 112,362 shares during the period. American Century Companies Inc. lifted its stake in SiteOne Landscape Supply by 44.3% in the second quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company’s stock worth $43,717,000 after purchasing an additional 110,589 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of SiteOne Landscape Supply during the second quarter valued at approximately $7,540,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of SiteOne Landscape Supply by 10.3% during the second quarter. Dimensional Fund Advisors LP now owns 568,349 shares of the industrial products company’s stock valued at $69,007,000 after buying an additional 53,131 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. The Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target on the stock. Barclays lifted their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target for the company. in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SiteOne Landscape Supply has a consensus rating of “Hold” and a consensus price target of $147.80.

Insider Buying and Selling

In related news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. The trade was a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.

SiteOne Landscape Supply Price Performance

NYSE SITE opened at $151.55 on Wednesday. The firm’s fifty day simple moving average is $146.19 and its two-hundred day simple moving average is $140.36. The firm has a market capitalization of $6.84 billion, a P/E ratio of 49.05 and a beta of 1.53. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 EPS for the current fiscal 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 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.