SiteOne Landscape Supply, Inc. (NYSE:SITE) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC cut its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,627 shares of the industrial products company’s stock after selling 114 shares during the period. HB Wealth Management LLC’s holdings in SiteOne Landscape Supply were worth $214,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its stake in SiteOne Landscape Supply by 90.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. lifted its position in SiteOne Landscape Supply by 287.7% during the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 187 shares during the period. Trust Co. of Vermont grew its position in SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 250 shares during the period. American National Bank & Trust purchased a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at about $49,000. Finally, Quarry LP purchased a new position in SiteOne Landscape Supply during the second quarter valued at approximately $61,000.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $147.47 on Friday. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 47.72 and a beta of 1.56. SiteOne Landscape Supply, Inc. has a 52 week low of $114.60 and a 52 week high of $188.01. The firm has a 50-day simple moving average of $140.71 and a 200-day simple moving average of $141.21. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts predict that SiteOne Landscape Supply, Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SITE has been the topic of a number of analyst reports. Barclays raised their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $175.00 in a research report on Friday, December 6th. The Goldman Sachs Group assumed coverage on SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target for the company. StockNews.com downgraded SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research report on Monday, January 20th. Finally, Robert W. Baird upped their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $156.44.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,942 shares in the company, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.70% of the company’s stock.

About SiteOne Landscape Supply

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.