Victory Capital Management Inc. Lowers Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Victory Capital Management Inc. lessened its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,337 shares of the industrial products company’s stock after selling 157 shares during the quarter. Victory Capital Management Inc.’s holdings in SiteOne Landscape Supply were worth $648,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SITE. OneDigital Investment Advisors LLC lifted its position in shares of SiteOne Landscape Supply by 22.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,877 shares of the industrial products company’s stock worth $228,000 after buying an additional 342 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of SiteOne Landscape Supply by 124.5% in the first quarter. Teacher Retirement System of Texas now owns 8,886 shares of the industrial products company’s stock valued at $1,079,000 after acquiring an additional 4,927 shares in the last quarter. GAMMA Investing LLC increased its position in shares of SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 95 shares during the last quarter. Fifth Third Bancorp lifted its holdings in SiteOne Landscape Supply by 4.9% during the first quarter. Fifth Third Bancorp now owns 3,595 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 167 shares during the period. Finally, Centiva Capital LP purchased a new position in SiteOne Landscape Supply in the fourth quarter worth $807,000.

SiteOne Landscape Supply Price Performance

SITE opened at $136.41 on Friday. The firm has a 50-day moving average price of $124.40 and a 200-day moving average price of $125.51. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74. The company has a quick ratio of 0.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 2.49 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $2.63 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CEO Doug Black sold 29,760 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $129.28, for a total value of $3,847,372.80. Following the completion of the transaction, the chief executive officer owned 596,684 shares in the company, valued at $77,139,307.52. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the sale, the executive vice president owned 13,663 shares in the company, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,784 shares of company stock valued at $9,828,465 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Barclays reduced their price target on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Loop Capital decreased their price objective on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating for the company in a report on Friday, April 4th. Truist Financial dropped their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Stifel Nicolaus reduced their target price on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $147.00.

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.