Fox Run Management L.L.C. Takes Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Fox Run Management L.L.C. recently acquired 7,695 shares of SiteOne Landscape Supply, Inc. for approximately $934,000, indicating growing institutional interest in the stock.
• SiteOne's EPS of $2.86 for the latest quarter fell short of expectations, while the company's revenue of $1.46 billion slightly missed the projected $1.49 billion.
• Despite recent insider selling, various analysts have updated their ratings, with some increasing price targets, suggesting that Wall Street remains cautiously optimistic about SiteOne's future performance.

Fox Run Management L.L.C. bought a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,695 shares of the industrial products company's stock, valued at approximately $934,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SITE. HM Payson & Co. bought a new stake in shares of SiteOne Landscape Supply during the first quarter worth $25,000. Golden State Wealth Management LLC grew its stake in shares of SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after buying an additional 139 shares during the last quarter. Eastern Bank bought a new stake in shares of SiteOne Landscape Supply during the first quarter worth $38,000. GAMMA Investing LLC grew its stake in shares of SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after buying an additional 95 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of 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 buying an additional 81 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Doug Black sold 29,760 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the completion of the transaction, the chief executive officer directly owned 596,684 shares of the company's stock, valued at $77,139,307.52. This represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the 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 transaction, the executive vice president directly owned 13,663 shares of the company's stock, valued at $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,784 shares of company stock valued at $9,828,465 over the last three months. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

SITE has been the topic of a number of research reports. Truist Financial decreased their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. 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. 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. Finally, Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, SiteOne Landscape Supply presently has an average rating of "Hold" and an average price target of $147.00.

SiteOne Landscape Supply Stock Down 2.5%

SITE stock traded down $3.50 during trading on Wednesday, reaching $139.00. The stock had a trading volume of 223,517 shares, compared to its average volume of 516,043. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.74. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $128.85 and its two-hundred day moving average is $124.90. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 50.74, a P/E/G ratio of 2.35 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data 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). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $2.63 earnings per share. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current 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.