TD Asset Management Inc. Reduces Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

TD Asset Management Inc. lowered its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 5.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,596 shares of the industrial products company’s stock after selling 1,353 shares during the period. TD Asset Management Inc.’s holdings in SiteOne Landscape Supply were worth $5,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Vigilant Capital Management LLC purchased a new stake in shares of SiteOne Landscape Supply during the third quarter worth $25,000. Wolff Wiese Magana LLC lifted its position in shares of SiteOne Landscape Supply by 406.7% during the third quarter. Wolff Wiese Magana LLC now owns 152 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of SiteOne Landscape Supply by 80.2% during the second quarter. Jones Financial Companies Lllp now owns 155 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Berman Capital Advisors LLC lifted its position in shares of SiteOne Landscape Supply by 48.9% during the third quarter. Berman Capital Advisors LLC now owns 210 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 69 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of SiteOne Landscape Supply during the second quarter worth $62,000.

In other news, CFO John T. Guthrie sold 8,465 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $246.76, for a total transaction of $2,088,823.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Doug Black sold 17,267 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $247.35, for a total value of $4,270,992.45. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Several research firms have issued reports on SITE. Zacks Investment Research downgraded SiteOne Landscape Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 6th. Royal Bank of Canada increased their price objective on SiteOne Landscape Supply from $165.00 to $197.00 and gave the stock an “underperform” rating in a research report on Thursday, November 4th. They noted that the move was a valuation call. Truist Securities increased their price objective on SiteOne Landscape Supply from $190.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, November 4th. Truist increased their price objective on SiteOne Landscape Supply from $190.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, November 4th. Finally, Robert W. Baird increased their price objective on SiteOne Landscape Supply from $205.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday, November 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $225.00.

SITE opened at $204.55 on Friday. The stock has a market cap of $9.14 billion, a PE ratio of 42.18 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 2.32 and a debt-to-equity ratio of 0.34. SiteOne Landscape Supply, Inc. has a 52 week low of $147.60 and a 52 week high of $260.00. The business’s fifty day simple moving average is $235.17 and its 200 day simple moving average is $210.15.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, November 3rd. The industrial products company reported $1.74 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.51. The business had revenue of $936.40 million for the quarter, compared to analysts’ expectations of $907.95 million. SiteOne Landscape Supply had a return on equity of 24.99% and a net margin of 6.65%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.87 earnings per share for the current year.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply, Inc engages in the distribution of commercial and residential landscape supplies. Its products include outdoor lighting, nursery, landscape supplies, fertilizers, turf protection products, grass seed, turf care equipment, and golf course accessories for green industry professionals.

Further Reading: What is an Initial Public Offering (IPO)?

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Institutional Ownership by Quarter for SiteOne Landscape Supply (NYSE:SITE)

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