SiteOne Landscape Supply, Inc. $SITE Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its stake in SiteOne Landscape Supply by 44.8%, now holding 52,302 shares valued at approximately $6.23 million.
• SiteOne Landscape Supply reported earnings of $2.86 per share for the last quarter, missing analysts' expectations of $2.89.
• Currently, SiteOne Landscape Supply has a market cap of $6.23 billion and a consensus target price of $147.00, with ratings indicating an average 'hold' for the stock.

AQR Capital Management LLC trimmed its position in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 44.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,302 shares of the industrial products company's stock after selling 42,387 shares during the quarter. AQR Capital Management LLC owned about 0.12% of SiteOne Landscape Supply worth $6,233,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SITE. Price T Rowe Associates Inc. MD increased its position in shares of SiteOne Landscape Supply by 12.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company's stock valued at $738,309,000 after purchasing an additional 660,081 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in SiteOne Landscape Supply by 31.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company's stock worth $254,143,000 after purchasing an additional 494,737 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock worth $143,733,000 after acquiring an additional 16,120 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of SiteOne Landscape Supply by 21.3% in the 1st quarter. Ameriprise Financial Inc. now owns 773,358 shares of the industrial products company's stock worth $93,913,000 after acquiring an additional 135,949 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $67,503,000 after purchasing an additional 2,951 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on SITE. Royal Bank Of Canada lifted their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $147.00.

Insiders Place Their Bets

In related news, 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 completion of the sale, the executive vice president owned 13,663 shares in the company, valued at approximately $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Doug Black sold 7,384 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $132.09, for a total transaction of $975,352.56. Following the sale, the chief executive officer owned 600,446 shares of the company's stock, valued at approximately $79,312,912.14. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,784 shares of company stock valued at $9,828,465. Insiders own 2.60% of the company's stock.

SiteOne Landscape Supply Stock Up 0.4%

Shares of NYSE:SITE traded up $0.54 during midday trading on Thursday, reaching $136.43. The company had a trading volume of 404,720 shares, compared to its average volume of 525,290. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06. The stock's fifty day moving average price is $137.55 and its 200-day moving average price is $126.09. The stock has a market capitalization of $6.09 billion, a P/E ratio of 49.79, a PEG ratio of 2.27 and a beta of 1.60. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.89 by ($0.03). The company 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.63 EPS. Equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal 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.