2,418 Shares in SiteOne Landscape Supply, Inc. $SITE Purchased by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. purchased 2,418 shares of SiteOne Landscape Supply, Inc. valued at approximately $292,000 during the 2nd quarter.
• Several hedge funds, including Teacher Retirement System of Texas and OneDigital Investment Advisors, have significantly increased their positions in SiteOne, suggesting growing institutional interest in the company.
• Analysts have varying ratings on SiteOne, with some upgrading to a "buy" while others maintain a "hold" rating, leading to a current consensus rating of "Hold" and an average price target of $150.50.

Lecap Asset Management Ltd. acquired a new position in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,418 shares of the industrial products company's stock, valued at approximately $292,000.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its position in SiteOne Landscape Supply by 22.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 1,877 shares of the industrial products company's stock worth $228,000 after purchasing an additional 342 shares during the last quarter. Teacher Retirement System of Texas increased its position in SiteOne Landscape Supply by 124.5% in the 1st quarter. Teacher Retirement System of Texas now owns 8,886 shares of the industrial products company's stock worth $1,079,000 after purchasing an additional 4,927 shares during the last quarter. GAMMA Investing LLC increased its position in SiteOne Landscape Supply by 24.3% in the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after purchasing an additional 95 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in SiteOne Landscape Supply by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 555,858 shares of the industrial products company's stock worth $67,503,000 after purchasing an additional 2,951 shares during the last quarter. Finally, TD Asset Management Inc increased its position in SiteOne Landscape Supply by 18.3% in the 1st quarter. TD Asset Management Inc now owns 61,389 shares of the industrial products company's stock worth $7,455,000 after purchasing an additional 9,496 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Doug Black sold 7,384 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $132.09, for a total transaction of $975,352.56. Following the completion of the sale, the chief executive officer owned 600,446 shares in the company, valued at $79,312,912.14. This represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on SITE. Zacks Research lowered SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Loop Capital raised SiteOne Landscape Supply from a "hold" rating to a "buy" rating and increased their price objective for the company from $150.00 to $160.00 in a report on Friday, September 19th. Weiss Ratings reissued a "hold (c-)" rating on shares of SiteOne Landscape Supply in a report on Saturday, September 27th. Royal Bank Of Canada increased their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $150.50.

SiteOne Landscape Supply Price Performance

Shares of NYSE:SITE opened at $127.45 on Friday. The business has a 50 day moving average price of $138.21 and a 200 day moving average price of $126.54. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 2.15 and a beta of 1.59. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.03). SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned $2.63 EPS. SiteOne Landscape Supply's revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

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.

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