American Century Companies Inc. Has $63.34 Million Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

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American Century Companies Inc. raised its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 521,564 shares of the industrial products company's stock after purchasing an additional 25,171 shares during the period. American Century Companies Inc. owned 1.16% of SiteOne Landscape Supply worth $63,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SITE. BLI Banque de Luxembourg Investments acquired a new position in SiteOne Landscape Supply during the fourth quarter valued at approximately $22,787,000. Jackson Square Partners LLC grew its holdings in SiteOne Landscape Supply by 2,732.2% during the first quarter. Jackson Square Partners LLC now owns 176,755 shares of the industrial products company's stock valued at $21,465,000 after purchasing an additional 170,514 shares during the last quarter. Invesco Ltd. grew its holdings in SiteOne Landscape Supply by 108.8% during the first quarter. Invesco Ltd. now owns 309,504 shares of the industrial products company's stock valued at $37,586,000 after purchasing an additional 161,263 shares during the last quarter. Nuveen LLC acquired a new position in SiteOne Landscape Supply during the first quarter valued at approximately $16,317,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in SiteOne Landscape Supply by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company's stock valued at $210,570,000 after purchasing an additional 91,719 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on SITE. Truist Financial lowered their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Stifel Nicolaus lowered their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Finally, Royal Bank Of Canada raised their price objective on shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $147.00.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 29,760 shares of SiteOne Landscape Supply stock in a transaction on Friday, July 11th. The stock was sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the completion of the transaction, the chief executive officer directly owned 596,684 shares of the company's stock, valued at approximately $77,139,307.52. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the transaction, the executive vice president directly owned 13,663 shares of the company's stock, valued at approximately $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is owned by company insiders.

SiteOne Landscape Supply Stock Up 0.6%

Shares of SITE stock opened at $140.48 on Tuesday. The stock has a market cap of $6.27 billion, a P/E ratio of 51.27, a price-to-earnings-growth ratio of 2.33 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74. The stock has a fifty day moving average price of $128.52 and a 200 day moving average price of $124.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued 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). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $2.63 earnings per share. Analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

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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