Fox Run Management L.L.C. Buys New 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 stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,695 shares of the industrial products company's stock, valued at approximately $934,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bamco Inc. NY raised its stake in shares of SiteOne Landscape Supply by 4.6% in the fourth quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock worth $217,786,000 after buying an additional 72,430 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of SiteOne Landscape Supply by 6.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company's stock worth $210,570,000 after buying an additional 91,719 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of SiteOne Landscape Supply by 1.4% in 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 shares of SiteOne Landscape Supply by 12.9% in 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 period. Finally, Dimensional Fund Advisors LP raised its stake in shares of SiteOne Landscape Supply by 4.5% in 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 period.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was 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 directly owned 13,663 shares in the company, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply stock in a transaction 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 completion of the transaction, the chief executive officer owned 600,446 shares in the company, valued at $79,312,912.14. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,784 shares of company stock valued at $9,828,465 over the last quarter. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SITE. Truist Financial decreased their price objective on 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. Stifel Nicolaus decreased their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada raised their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $147.00.

SiteOne Landscape Supply Trading Down 0.6%

Shares of SITE stock traded down $0.8950 on Thursday, reaching $136.9350. 104,385 shares of the company's stock were exchanged, compared to its average volume of 515,545. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6.11 billion, a PE ratio of 49.99, a P/E/G ratio of 2.38 and a beta of 1.54. The company's fifty day simple moving average is $129.12 and its 200 day simple moving average is $124.99.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $2.63 earnings per share. SiteOne Landscape Supply's revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

About SiteOne Landscape Supply

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.