Bank of New York Mellon Corp Has $48.91 Million Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Bank of New York Mellon Corp decreased its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,760 shares of the industrial products company’s stock after selling 21,093 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of SiteOne Landscape Supply worth $48,911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SITE. Golden State Wealth Management LLC raised its position in shares of SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 139 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in SiteOne Landscape Supply in the 4th quarter valued at $40,000. Brown Brothers Harriman & Co. increased its position in shares of SiteOne Landscape Supply by 395.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 273 shares during the last quarter. GAMMA Investing LLC increased its position in shares of SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 95 shares during the last quarter. Finally, State of Wyoming increased its position in shares of SiteOne Landscape Supply by 6.2% during the 4th quarter. State of Wyoming now owns 1,389 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 81 shares during the last quarter.

Wall Street Analyst Weigh In

SITE has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their target price on SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating for the company in a report on Monday, April 28th. Loop Capital cut their price objective on SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating for the company in a report on Friday, April 4th. Wall Street Zen raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. Royal Bank Of Canada lowered their price objective on SiteOne Landscape Supply from $136.00 to $130.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Finally, Truist Financial decreased their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $145.70.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the completion of the sale, the executive vice president owned 13,663 shares of the company’s stock, valued at $1,725,363.64. This trade represents a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

SiteOne Landscape Supply Stock Down 1.7%

SiteOne Landscape Supply stock opened at $129.18 on Monday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 51.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The business’s 50-day moving average price is $121.89 and its 200 day moving average price is $125.57. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.75.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). The firm had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $933.90 million. SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current 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.