SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 11.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,168 shares of the industrial products company’s stock after selling 405 shares during the quarter. Principal Financial Group Inc.’s holdings in SiteOne Landscape Supply were worth $478,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new position in SiteOne Landscape Supply during the second quarter valued at $27,000. Toronto Dominion Bank acquired a new position in shares of SiteOne Landscape Supply during the 1st quarter worth about $29,000. Blue Trust Inc. lifted its stake in SiteOne Landscape Supply by 287.7% in the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after buying an additional 187 shares in the last quarter. American National Bank & Trust acquired a new stake in SiteOne Landscape Supply in the 3rd quarter worth about $49,000. Finally, Quarry LP purchased a new position in shares of SiteOne Landscape Supply in the second quarter valued at approximately $61,000.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $148.77 on Monday. The business’s fifty day simple moving average is $145.80 and its 200-day simple moving average is $140.50. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.71 billion, a PE ratio of 48.15 and a beta of 1.53. SiteOne Landscape Supply, Inc. has a 52 week low of $114.60 and a 52 week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm posted $1.25 earnings per share. SiteOne Landscape Supply’s revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on SITE shares. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group began 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. Truist Financial boosted their target price on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Barclays increased their price target on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $147.80.

Insider Activity at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the sale, the executive vice president now owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

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.