Thrive Wealth Management LLC Sells 389 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

Thrive Wealth Management LLC lessened its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 20.6% in the second quarter, HoldingsChannel.com reports. The fund owned 1,502 shares of the industrial products company’s stock after selling 389 shares during the period. Thrive Wealth Management LLC’s holdings in SiteOne Landscape Supply were worth $251,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in shares of SiteOne Landscape Supply by 0.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,199 shares of the industrial products company’s stock worth $2,354,000 after acquiring an additional 77 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in SiteOne Landscape Supply by 0.8% during the 1st quarter. First Republic Investment Management Inc. now owns 10,557 shares of the industrial products company’s stock worth $1,707,000 after purchasing an additional 88 shares during the last quarter. Deutsche Bank AG lifted its position in shares of SiteOne Landscape Supply by 4.8% in the 1st quarter. Deutsche Bank AG now owns 2,317 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 106 shares during the period. Stephens Inc. AR boosted its stake in shares of SiteOne Landscape Supply by 5.1% in the 1st quarter. Stephens Inc. AR now owns 2,186 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 107 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of SiteOne Landscape Supply by 3.3% during the fourth quarter. Captrust Financial Advisors now owns 3,589 shares of the industrial products company’s stock worth $421,000 after buying an additional 116 shares during the period.

SiteOne Landscape Supply Trading Down 1.1 %

NYSE SITE opened at $157.81 on Tuesday. SiteOne Landscape Supply, Inc. has a 52 week low of $97.36 and a 52 week high of $176.16. The business has a 50 day moving average price of $164.14 and a 200-day moving average price of $152.47. The company has a quick ratio of 1.06, a current ratio of 2.32 and a debt-to-equity ratio of 0.30. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 8.31 and a beta of 1.48.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. SiteOne Landscape Supply had a net margin of 4.59% and a return on equity of 14.31%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.07 earnings per share. As a group, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $167.33, for a total transaction of $1,338,640.00. Following the completion of the sale, the chief executive officer now directly owns 558,886 shares of the company’s stock, valued at approximately $93,518,394.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Doug Black sold 8,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $167.33, for a total value of $1,338,640.00. Following the completion of the sale, the chief executive officer now owns 558,886 shares in the company, valued at $93,518,394.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John T. Guthrie sold 1,028 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $164.47, for a total transaction of $169,075.16. Following the transaction, the chief financial officer now directly owns 15,050 shares in the company, valued at $2,475,273.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,028 shares of company stock valued at $2,762,035. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SITE has been the topic of several recent analyst reports. Stifel Nicolaus upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and boosted their target price for the company from $160.00 to $185.00 in a report on Monday, August 7th. Truist Financial upped their target price on SiteOne Landscape Supply from $177.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. StockNews.com started coverage on SiteOne Landscape Supply in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Barclays cut SiteOne Landscape Supply from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $146.00 to $144.00 in a report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $164.00.

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 a selection of approximately 155,000 stock keeping units, including irrigation supplies, which comprise controllers, valves, sprinkler heads, and irrigation pipes; 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; 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.