Picton Mahoney Asset Management Sells 24,187 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Picton Mahoney Asset Management reduced its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 97.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 655 shares of the industrial products company’s stock after selling 24,187 shares during the period. Picton Mahoney Asset Management’s holdings in SiteOne Landscape Supply were worth $80,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of SiteOne Landscape Supply by 13.5% in the 2nd quarter. Van ECK Associates Corp now owns 17,131 shares of the industrial products company’s stock worth $2,080,000 after acquiring an additional 2,042 shares in the last quarter. Sage Rhino Capital LLC bought a new position in shares of SiteOne Landscape Supply in the 2nd quarter worth about $274,000. Heritage Family Offices LLP bought a new position in shares of SiteOne Landscape Supply in the 2nd quarter worth about $233,000. International Assets Investment Management LLC bought a new position in shares of SiteOne Landscape Supply in the 2nd quarter worth about $67,000. Finally, iA Global Asset Management Inc. raised its position in shares of SiteOne Landscape Supply by 76.0% in the 2nd quarter. iA Global Asset Management Inc. now owns 3,064 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 1,323 shares in the last quarter.

Insider Transactions at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 878 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $129.04, for a total value of $113,297.12. Following the transaction, the director now owns 11,267 shares in the company, valued at approximately $1,453,893.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SITE. Jefferies Financial Group lowered their price objective on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a research report on Thursday, August 1st. Barclays lowered their price objective on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada decreased their target price on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Finally, UBS Group decreased their target price on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, SiteOne Landscape Supply has an average rating of “Hold” and an average price target of $144.33.

SiteOne Landscape Supply Price Performance

SITE stock opened at $141.86 on Monday. The company has a market capitalization of $6.40 billion, a P/E ratio of 41.12 and a beta of 1.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 2.47. SiteOne Landscape Supply, Inc. has a 52-week low of $114.60 and a 52-week high of $188.01. The business has a 50-day simple moving average of $133.24 and a two-hundred day simple moving average of $150.60.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 EPS. Research analysts expect that SiteOne Landscape Supply, Inc. will post 3.19 EPS for the current fiscal year.

SiteOne Landscape Supply Company 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.