Charles Schwab Investment Management Inc. Buys 2,951 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Charles Schwab Investment Management Inc. increased its stake in SiteOne Landscape Supply by 0.5% in the first quarter, now owning 555,858 shares valued at approximately $67.5 million.
• CEO Doug Black and EVP Joseph Ketter sold a combined total of 69,400 shares recently, reflecting significant decreases in their ownership percentages.
• SiteOne reported Q2 earnings of $2.86 per share, missing analyst estimates and generating revenue of $1.46 billion, compared to estimates of $1.49 billion.

Charles Schwab Investment Management Inc. lifted its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 555,858 shares of the industrial products company's stock after purchasing an additional 2,951 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.24% of SiteOne Landscape Supply worth $67,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SITE. Bamco Inc. NY increased its position in SiteOne Landscape Supply by 4.6% during the 4th quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock valued at $217,786,000 after purchasing an additional 72,430 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of SiteOne Landscape Supply by 6.1% in the 4th 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. Conestoga Capital Advisors LLC increased its position in shares of SiteOne Landscape Supply by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock worth $143,733,000 after buying an additional 16,120 shares during the period. Ameriprise Financial Inc. raised its stake in SiteOne Landscape Supply by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 637,409 shares of the industrial products company's stock worth $83,989,000 after buying an additional 73,010 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in SiteOne Landscape Supply by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 631,328 shares of the industrial products company's stock worth $83,190,000 after buying an additional 27,409 shares during the last quarter.

Wall Street Analyst Weigh In

SITE has been the subject of a number of recent analyst reports. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. 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 report on Thursday, July 31st. Truist Financial lowered their price objective on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus cut their price target on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of "Hold" and an average price target of $147.00.

SiteOne Landscape Supply Stock Up 1.6%

Shares of NYSE SITE traded up $2.18 during mid-day trading on Tuesday, hitting $142.64. 82,928 shares of the stock traded hands, compared to its average volume of 515,805. The stock has a fifty day moving average price of $128.52 and a 200-day moving average price of $124.78. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 52.18, a PEG ratio of 2.33 and a beta of 1.54. 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 (NYSE:SITE - Get Free Report) last released 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 return on equity of 7.80% and a net margin of 2.69%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm posted $2.63 earnings per share. The company's revenue was up 3.4% compared to the same quarter last year. Research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Insider Activity

In other news, CEO Doug Black sold 7,384 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were 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 in the company, valued at approximately $79,312,912.14. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the sale, the executive vice president directly owned 13,663 shares of the company's stock, valued at $1,725,363.64. This trade represents a 74.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,784 shares of company stock worth $9,828,465 over the last three months. 2.60% of the stock is currently owned by insiders.

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.