Charles Schwab Investment Management Inc. Buys 2,951 Shares of SiteOne Landscape Supply, Inc. (NYSE: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. grew its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 555,858 shares of the industrial products company's stock after acquiring 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. HM Payson & Co. bought a new stake in shares of SiteOne Landscape Supply in the first quarter valued at about $25,000. Golden State Wealth Management LLC boosted its position in shares of SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 139 shares during the period. Eastern Bank bought a new stake in shares of SiteOne Landscape Supply in the first quarter valued at about $38,000. GAMMA Investing LLC boosted its position in shares of SiteOne Landscape Supply by 24.3% in the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 95 shares during the period. Finally, State of Wyoming lifted its position in SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company's stock worth $183,000 after purchasing an additional 81 shares during the period.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black sold 29,760 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $129.28, for a total value of $3,847,372.80. Following the sale, the chief executive officer directly owned 596,684 shares in the company, valued at $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the company'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 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 $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. Insiders sold 76,784 shares of company stock valued at $9,828,465 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SITE. Royal Bank Of Canada upped 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 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. Truist Financial cut their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their target price on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research note 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $147.00.

SiteOne Landscape Supply Trading Down 0.8%

Shares of SiteOne Landscape Supply stock traded down $1.12 on Friday, hitting $140.21. The stock had a trading volume of 394,456 shares, compared to its average volume of 754,069. The stock has a 50 day moving average of $128.20 and a 200 day moving average of $124.92. SiteOne Landscape Supply, Inc. has a twelve month low of $101.25 and a twelve month high of $160.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41. The firm has a market capitalization of $6.25 billion, a P/E ratio of 51.17, a PEG ratio of 2.33 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company earned $2.63 EPS. The business's quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side 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.