Swedbank AB Reduces Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Swedbank AB trimmed its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 30.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,000 shares of the industrial products company's stock after selling 31,000 shares during the period. Swedbank AB owned 0.16% of SiteOne Landscape Supply worth $10,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wasatch Advisors LP lifted its stake in SiteOne Landscape Supply by 47.8% during the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company's stock worth $172,211,000 after purchasing an additional 319,071 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of SiteOne Landscape Supply by 49.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company's stock worth $58,226,000 after buying an additional 158,350 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of SiteOne Landscape Supply in the first quarter worth about $21,860,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of SiteOne Landscape Supply by 130.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company's stock valued at $24,065,000 after purchasing an additional 112,362 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of SiteOne Landscape Supply by 44.3% during the 2nd quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company's stock valued at $43,717,000 after purchasing an additional 110,589 shares during the last quarter.

Insider Activity at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 878 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the completion of the sale, the director now owns 11,267 shares in the company, valued at $1,453,893.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SITE has been the subject of a number of research reports. Stifel Nicolaus cut SiteOne Landscape Supply from a "buy" rating to a "hold" rating and set a $150.00 price target for the company. in a research note on Thursday, August 1st. Robert W. Baird upped their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an "outperform" rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a "neutral" rating and a $158.00 price objective for the company. StockNews.com cut shares of SiteOne Landscape Supply from a "hold" rating to a "sell" rating in a research report on Saturday, August 10th. Finally, Royal Bank of Canada reduced their price objective on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $147.20.

SiteOne Landscape Supply Stock Down 0.6 %

SITE traded down $0.88 during trading on Friday, hitting $144.99. 252,143 shares of the company's stock were exchanged, compared to its average volume of 362,671. SiteOne Landscape Supply, Inc. has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The stock has a market cap of $6.54 billion, a P/E ratio of 43.28 and a beta of 1.53. The business's 50 day moving average is $142.08 and its two-hundred day moving average is $144.05. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.13. The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.39 billion. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. As a group, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.23 earnings per share 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.