7,441 Shares in SiteOne Landscape Supply, Inc. $SITE Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired 7,441 shares of SiteOne Landscape Supply Inc., valued at approximately $904,000, as part of its investment strategy in the 1st quarter of the year.
• SiteOne Landscape Supply reported earnings per share (EPS) of $2.86 for the last quarter, missing the consensus estimate of $2.89, with a net margin of 2.69% and revenue of $1.46 billion.
• Several analysts have revised their target prices for SiteOne, with Royal Bank of Canada raising it from $130.00 to $143.00, indicating a cautious but positive outlook for the stock.

Strs Ohio acquired a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,441 shares of the industrial products company's stock, valued at approximately $904,000.

Several other institutional investors also recently bought and sold shares of SITE. HM Payson & Co. purchased a new position in shares of SiteOne Landscape Supply in the first quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new stake in SiteOne Landscape Supply in the 1st quarter valued at $32,000. Golden State Wealth Management LLC grew its holdings in shares of SiteOne Landscape Supply by 106.1% during the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after purchasing an additional 139 shares during the period. Eastern Bank purchased a new position in shares of SiteOne Landscape Supply during the 1st quarter worth $38,000. Finally, NewEdge Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock worth $48,000 after purchasing an additional 107 shares during the period.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE opened at $136.43 on Friday. The company has a market cap of $6.09 billion, a P/E ratio of 49.79, a PEG ratio of 2.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74. The business's 50-day simple moving average is $137.55 and its 200 day simple moving average is $126.09.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 EPS 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 company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the business posted $2.63 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the completion of the transaction, the executive vice president owned 13,663 shares in the company, valued at $1,725,363.64. The trade was a 74.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Doug Black sold 7,384 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the transaction, the chief executive officer owned 600,446 shares of the company's stock, valued at $79,312,912.14. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,784 shares of company stock valued at $9,828,465 over the last quarter. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SITE. Royal Bank Of Canada increased their target price on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $147.00.

SiteOne Landscape Supply 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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