Russell Investments Group Ltd. Reduces Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Russell Investments Group Ltd. lessened its position in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 22.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,576 shares of the industrial products company’s stock after selling 13,945 shares during the quarter. Russell Investments Group Ltd.’s holdings in SiteOne Landscape Supply were worth $7,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SITE. Vaughan Nelson Investment Management L.P. boosted its stake in SiteOne Landscape Supply by 100.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock worth $41,587,000 after purchasing an additional 128,076 shares in the last quarter. Jennison Associates LLC bought a new position in SiteOne Landscape Supply in the 3rd quarter worth $17,835,000. International Assets Investment Management LLC boosted its stake in shares of SiteOne Landscape Supply by 14,782.5% in the fourth quarter. International Assets Investment Management LLC now owns 90,188 shares of the industrial products company’s stock worth $14,656,000 after acquiring an additional 89,582 shares during the period. Comerica Bank purchased a new stake in SiteOne Landscape Supply during the 3rd quarter valued at approximately $14,624,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of SiteOne Landscape Supply by 14.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 586,629 shares of the industrial products company’s stock valued at $95,327,000 after purchasing an additional 75,698 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,000 shares of company stock valued at $3,924,500. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SITE has been the subject of several research reports. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $145.00 to $133.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Truist Financial dropped their price target on SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and dropped their target price for the stock from $167.00 to $165.00 in a report on Thursday, May 2nd. Finally, Robert W. Baird increased their price target on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.50.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $156.14 on Wednesday. SiteOne Landscape Supply, Inc. has a one year low of $116.81 and a one year high of $188.01. The company has a market capitalization of $7.06 billion, a PE ratio of 45.26 and a beta of 1.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 2.36. The company has a 50-day simple moving average of $169.05 and a two-hundred day simple moving average of $157.07.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The company had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. During the same quarter last year, the business earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts expect that SiteOne Landscape Supply, Inc. will post 4.02 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.