Maryland State Retirement & Pension System Sells 463 Shares of SiteOne Landscape Supply, Inc. $SITE

Maryland State Retirement & Pension System lessened its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,084 shares of the industrial products company’s stock after selling 463 shares during the period. Maryland State Retirement & Pension System’s holdings in SiteOne Landscape Supply were worth $253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HM Payson & Co. bought a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at about $25,000. Golden State Wealth Management LLC raised its stake in SiteOne Landscape Supply by 106.1% during the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock worth $33,000 after buying an additional 139 shares during the period. Eastern Bank acquired a new position in SiteOne Landscape Supply during the 1st quarter worth approximately $38,000. GAMMA Investing LLC raised its stake in SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company’s stock worth $59,000 after buying an additional 95 shares during the period. Finally, State of Wyoming raised its stake in 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 worth $183,000 after buying an additional 81 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Stifel Nicolaus dropped their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Wall Street Zen raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Truist Financial dropped their price target on 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply has an average rating of “Hold” and an average price target of $147.00.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $140.48 on Tuesday. The company has a market cap of $6.27 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 2.33 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The business has a 50 day moving average price of $128.52 and a 200-day moving average price of $124.78. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE) last issued 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). The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.63 earnings per share. Equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In other news, CEO Doug Black sold 29,760 shares of the company’s stock in a transaction that occurred on 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 directly owned 596,684 shares of the company’s stock, valued at $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 13,663 shares of the company’s stock, 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. Over the last ninety days, insiders sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is currently owned by corporate insiders.

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.