California State Teachers Retirement System Has $5.86 Million Stock Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• California State Teachers Retirement System reduced its SiteOne Landscape Supply stake by 1.5% in the second quarter, selling 776 shares. It still owned 51,233 shares valued at approximately $5.86 million, or 0.12% of the company.
• SiteOne CEO Doug Black purchased 8,000 shares for about $816,240, while several smaller institutional investors increased their positions. Company insiders own 2.10% of the stock.
• Shares fell 2.6% to $86.98 after the company reported quarterly earnings of $3.14 per share, below the $3.36 consensus estimate. Analysts have an overall “Hold” rating with an average price target of $135.27, although several firms recently cut their targets.

California State Teachers Retirement System reduced its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,233 shares of the industrial products company's stock after selling 776 shares during the quarter. California State Teachers Retirement System owned about 0.12% of SiteOne Landscape Supply worth $5,861,568 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SITE. Basecamp Wealth Advisors LLC raised its stake in shares of SiteOne Landscape Supply by 219.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock worth $25,000 after acquiring an additional 127 shares in the last quarter. Whittier Trust Co. grew its holdings in SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of SiteOne Landscape Supply by 1,521.4% in the fourth quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company's stock worth $28,000 after purchasing an additional 213 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock valued at $38,000 after buying an additional 158 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in SiteOne Landscape Supply by 182.6% during the 1st quarter. Bessemer Group Inc. now owns 373 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 241 shares during the last quarter.

Insider Activity

In other SiteOne Landscape Supply news, CEO Doug Black bought 8,000 shares of SiteOne Landscape Supply stock in a transaction on Tuesday, August 4th. The stock was purchased at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the purchase, the chief executive officer directly owned 8,000 shares of the company's stock, valued at $816,240. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

SITE has been the subject of several research analyst reports. Stifel Nicolaus reissued a "hold" rating and issued a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Weiss Ratings raised SiteOne Landscape Supply from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, September 2nd. Royal Bank Of Canada reduced their price objective on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an "outperform" rating on the stock in a report on Thursday, July 30th. Robert W. Baird dropped their price objective on SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, July 28th. Finally, Zacks Research lowered SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a research note on Monday, June 22nd. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply currently has an average rating of "Hold" and an average target price of $135.27.

SiteOne Landscape Supply Trading Down 2.6%

Shares of NYSE:SITE traded down $2.36 during trading on Tuesday, reaching $86.98. 722,190 shares of the company traded hands, compared to its average volume of 793,306. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.34 and a beta of 1.34. The business's fifty day moving average is $99.54 and its 200-day moving average is $115.32. SiteOne Landscape Supply, Inc. has a 52-week low of $86.98 and a 52-week high of $168.56. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the business posted $2.86 earnings per share. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current year.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape, irrigation, and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, golf course professionals, green-industry businesses, municipalities, and other commercial customers through a network of local branches and distribution facilities.

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.

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