M&T Bank Corp Trims Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

M&T Bank Corp lowered its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,909 shares of the industrial products company’s stock after selling 105 shares during the period. M&T Bank Corp’s holdings in SiteOne Landscape Supply were worth $1,935,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in SiteOne Landscape Supply by 11.6% in the 3rd quarter. SG Americas Securities LLC now owns 1,093 shares of the industrial products company’s stock worth $179,000 after buying an additional 114 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in SiteOne Landscape Supply in the 3rd quarter valued at $219,000. Raymond James Financial Services Advisors Inc. boosted its stake in SiteOne Landscape Supply by 5.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,285 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 168 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in SiteOne Landscape Supply in the 3rd quarter valued at about $290,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in SiteOne Landscape Supply by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the industrial products company’s stock worth $1,485,000 after purchasing an additional 1,200 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SITE shares. Barclays dropped their price target on SiteOne Landscape Supply from $145.00 to $133.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada upped their target price on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Truist Financial lowered their price target on shares of SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird upped their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, Stifel Nicolaus upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and decreased their target price for the company from $167.00 to $165.00 in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, SiteOne Landscape Supply presently has an average rating of “Hold” and an average price target of $167.50.

SiteOne Landscape Supply Trading Up 1.2 %

NYSE SITE opened at $157.19 on Friday. SiteOne Landscape Supply, Inc. has a 12 month low of $116.81 and a 12 month high of $188.01. The stock has a market capitalization of $7.11 billion, a P/E ratio of 45.56 and a beta of 1.53. The firm’s 50-day moving average is $168.63 and its two-hundred day moving average is $157.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.36 and a quick ratio of 0.96.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The company had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the sale, the chief financial officer now directly owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the sale, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $93,151,899.70. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock worth $3,924,500 over the last ninety days. Corporate 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.