SiteOne Landscape Supply, Inc. $SITE Stake Lowered by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 39.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 525 shares of the industrial products company’s stock after selling 336 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in SiteOne Landscape Supply were worth $64,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HM Payson & Co. bought a new position in shares of SiteOne Landscape Supply during the first quarter valued at approximately $25,000. Brooklyn Investment Group bought a new position in shares of SiteOne Landscape Supply during the first quarter valued at approximately $32,000. Golden State Wealth Management LLC grew its holdings 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 valued at $33,000 after purchasing an additional 139 shares during the last quarter. Eastern Bank bought a new position in shares of SiteOne Landscape Supply during the first quarter valued at approximately $38,000. Finally, GAMMA Investing LLC grew its holdings in SiteOne Landscape Supply by 24.3% in 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 in the last quarter.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total value of $5,005,739.20. Following the completion of the sale, the executive vice president directly owned 13,663 shares in the company, valued at $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Doug Black sold 7,384 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the sale, the chief executive officer owned 600,446 shares of the company’s stock, valued at $79,312,912.14. This trade represents a 1.21% 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 90 days. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Wall Street Zen raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of “Hold” and an average price target of $147.00.

SiteOne Landscape Supply Stock Performance

SITE opened at $153.05 on Friday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 55.86, a price-to-earnings-growth ratio of 2.55 and a beta of 1.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74. The business has a 50 day moving average price of $135.17 and a two-hundred day moving average price of $125.40.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $2.63 earnings per share. Research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 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.