Hill City Capital LP Buys New Shares in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Hill City Capital LP invested approximately $5.13 million in SiteOne Landscape Supply by purchasing 42,250 shares, making it the fund's 17th largest holding.
• Analysts have varied opinions on the stock, with target prices ranging from $126.00 to $165.00, and a consensus rating of "Hold" based on mixed performance.
• SiteOne Landscape Supply reported a 3.4% year-over-year revenue increase, but missed earnings expectations with an EPS of $2.86, below the consensus estimate of $2.89.

Hill City Capital LP bought a new stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,250 shares of the industrial products company's stock, valued at approximately $5,131,000. SiteOne Landscape Supply comprises about 0.4% of Hill City Capital LP's portfolio, making the stock its 17th biggest holding. Hill City Capital LP owned approximately 0.09% of SiteOne Landscape Supply as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SITE. Marshall Wace LLP acquired a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at approximately $447,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of SiteOne Landscape Supply by 5.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 9,940 shares of the industrial products company's stock valued at $1,307,000 after purchasing an additional 547 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 valued at $83,190,000 after purchasing an additional 27,409 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of SiteOne Landscape Supply by 24.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 358 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of SiteOne Landscape Supply by 67.4% in the fourth quarter. Hsbc Holdings PLC now owns 4,626 shares of the industrial products company's stock valued at $613,000 after purchasing an additional 1,863 shares during the last quarter.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the completion of the transaction, the executive vice president directly owned 13,663 shares in the company, valued at $1,725,363.64. This trade represents a 74.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Doug Black sold 29,760 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 596,684 shares of the company's stock, valued at approximately $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,784 shares of company stock valued at $9,828,465. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SITE shares. Royal Bank Of Canada increased their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $147.00.

SiteOne Landscape Supply Trading Down 1.0%

SITE stock traded down $1.52 during midday trading on Friday, hitting $143.44. 326,072 shares of the company's stock were exchanged, compared to its average volume of 538,536. The business has a 50-day simple moving average of $132.69 and a two-hundred day simple moving average of $125.32. 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 $6.40 billion, a PE ratio of 52.35, a P/E/G ratio of 2.39 and a beta of 1.54. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly 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 firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. The company's quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

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.