California State Teachers Retirement System Has $670.62 Million Stock Holdings in SiteOne Landscape Supply, Inc. $SITE

Key Points

• California State Teachers Retirement System sharply increased its SiteOne Landscape Supply position by purchasing 5.81 million additional shares in the second quarter, bringing its holdings to 5.86 million shares valued at $670.62 million, or approximately 13.43% of the company.
• Analysts have mixed views on the stock: seven recommend Buy, six Hold, and one Sell. The consensus rating is Hold, with a $135.27 price target, despite several analysts recently lowering their targets.
• SiteOne shares opened at $92.97, near their 52-week low of $90.07. The company’s latest quarterly results missed expectations, with EPS of $3.14 versus the $3.36 consensus, although revenue rose 4.7% year over year to $1.53 billion; CEO Doug Black also bought 5,000 shares.

California State Teachers Retirement System lifted its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 11,170.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,861,568 shares of the industrial products company's stock after purchasing an additional 5,809,559 shares during the quarter. California State Teachers Retirement System owned about 13.43% of SiteOne Landscape Supply worth $670,622,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SITE. Millennium Management LLC lifted its position in SiteOne Landscape Supply by 45.9% in the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company's stock valued at $9,126,000 after acquiring an additional 23,657 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 107 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of SiteOne Landscape Supply by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company's stock worth $25,907,000 after purchasing an additional 11,574 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of SiteOne Landscape Supply by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company's stock worth $20,679,000 after purchasing an additional 16,378 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in SiteOne Landscape Supply during the first quarter worth $6,797,000.

Analysts Set New Price Targets

SITE has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of SiteOne Landscape Supply from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada dropped their price objective on SiteOne Landscape Supply from $171.00 to $135.00 and set an "outperform" rating on the stock in a research note on Thursday, July 30th. UBS Group decreased their price objective on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Barclays decreased their price objective on shares of SiteOne Landscape Supply from $129.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, July 30th. Finally, KeyCorp lowered their target price on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $135.27.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $92.97 on Monday. SiteOne Landscape Supply, Inc. has a 1-year low of $90.07 and a 1-year 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. The stock has a market cap of $4.06 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.34 and a beta of 1.34. The stock's 50-day moving average is $99.96 and its 200-day moving average is $115.73.

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

Insiders Place Their Bets

In other news, CEO Doug Black acquired 5,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, August 26th. The shares were bought at an average cost of $96.13 per share, with a total value of $480,650.00. Following the purchase, the chief executive officer owned 13,000 shares in the company, valued at $1,249,690. This trade represents a 62.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.10% of the company's stock.

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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